{"id":19376,"date":"2025-08-08T20:06:31","date_gmt":"2025-08-09T00:06:31","guid":{"rendered":"https:\/\/www.greenparty.ca\/?post_type=article&p=19376"},"modified":"2025-08-08T20:06:32","modified_gmt":"2025-08-09T00:06:32","slug":"green-party-slams-developer-demands","status":"publish","type":"article","link":"https:\/\/www.greenparty.ca\/en\/news\/green-party-slams-developer-demands","title":{"rendered":"Green Party Slams Developer Demands to Reopen Canada\u2019s Housing Market to Global Capital"},"content":{"rendered":"\n

OTTAWA \u2014<\/strong> The Green Party of Canada is calling on the federal government to reject developer pressure to lift the foreign buyer ban, warning that doing so would entrench the very system that made housing unaffordable in the first place.<\/p>\n\n\n\n

\u201cThis isn\u2019t about building homes. It\u2019s about protecting a business model that relies on selling Canadian real estate to global capital,\u201d said Green Party Leader Elizabeth May. \u201cDevelopers are sitting on unsold pre-construction units and want the federal government to help them offload them to foreign investors. That\u2019s not housing policy, that\u2019s profiteering.”<\/p>\n\n\n\n

The request, detailed in a pre-budget submission from major developers including Mattamy, Great Gulf, Minto and DiamondCorp, proposes re-opening the market to international buyers in order to \u201cunlock billions\u201d in private capital. But the Green Party says that approach would only deepen Canada\u2019s dependence on speculative investment and put the dream of homeownership even further out of reach for ordinary Canadians.<\/p>\n\n\n\n

\u201cThe housing crisis isn\u2019t local, it\u2019s global. And it\u2019s not just about supply and demand. It\u2019s about inequality,\u201d said May. \u201cFrom London to Lisbon to Vancouver, the story is the same: the ultra-rich are buying up assets \u2014 like housing \u2014 and working people are being priced out. Until we confront that fact, nothing will change.\u201d<\/p>\n\n\n\n

The party argues that letting foreign capital back into the pre-construction market would do little to solve Canada\u2019s housing shortfall, but a great deal to inflate developer profits and keep land values artificially high. It would also further skew the kinds of housing being built: not co-ops, not affordable rentals, but luxury real estate built to attract cash, not families.<\/p>\n\n\n\n

\u201cDevelopers are claiming they can\u2019t finance projects without foreign investment. What they\u2019re really saying is that they\u2019ve built a system so dependent on speculative capital that they can\u2019t function without it,\u201d said Mike Morrice, Green Party Housing & Disability Inclusion Critic. \u201cThat\u2019s not a reason to change the rules. That\u2019s a flashing red warning to change the system.\u201d<\/p>\n\n\n\n

The Green Party is calling instead for a return to large-scale federal investment in non-market housing, especially non-profit rentals and cooperative housing, alongside strong measures to curb speculation and financial landlordism. That includes rejecting tax breaks for luxury rental developers and ending backdoor subsidies to corporate landlords who profit from scarcity.<\/p>\n\n\n\n

\u201cThis is a moment of clarity. The developers have shown us exactly what kind of housing economy they\u2019re fighting for,\u201d said May. \u201cNow it\u2019s up to the rest of us to fight back \u2014 and build something better.\u201d<\/p>\n\n\n\n

-30-<\/strong><\/p>\n\n\n\n

For media inquiries or to arrange an interview:
<\/strong>media@greenparty.ca<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

OTTAWA \u2014 The Green Party of Canada is calling on the federal government to reject developer pressure to lift the foreign buyer ban, warning that doing so would entrench the […]<\/p>\n","protected":false},"featured_media":0,"template":"","meta":{"_acf_changed":false,"inline_featured_image":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"_price":"","_stock":"","_tribe_ticket_header":"","_tribe_default_ticket_provider":"","_tribe_ticket_capacity":"0","_ticket_start_date":"","_ticket_end_date":"","_tribe_ticket_show_description":"","_tribe_ticket_show_not_going":false,"_tribe_ticket_use_global_stock":"","_tribe_ticket_global_stock_level":"","_global_stock_mode":"","_global_stock_cap":"","_tribe_rsvp_for_event":"","_tribe_ticket_going_count":"","_tribe_ticket_not_going_count":"","_tribe_tickets_list":"[]","_tribe_ticket_has_attendee_info_fields":false},"location":[33],"section":[6],"class_list":["post-19376","article","type-article","status-publish","hentry","location-ottawa","section-media-release"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.greenparty.ca\/en\/wp-json\/wp\/v2\/article\/19376","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.greenparty.ca\/en\/wp-json\/wp\/v2\/article"}],"about":[{"href":"https:\/\/www.greenparty.ca\/en\/wp-json\/wp\/v2\/types\/article"}],"wp:attachment":[{"href":"https:\/\/www.greenparty.ca\/en\/wp-json\/wp\/v2\/media?parent=19376"}],"wp:term":[{"taxonomy":"location","embeddable":true,"href":"https:\/\/www.greenparty.ca\/en\/wp-json\/wp\/v2\/location?post=19376"},{"taxonomy":"section","embeddable":true,"href":"https:\/\/www.greenparty.ca\/en\/wp-json\/wp\/v2\/section?post=19376"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}