A united government would buy 10,000 houses or condos in four years in order to resell them at an average price of 25% less.
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This is the promise made by Gabriel Nadeau-Dubois Monday morning, in Longueuil, in order to partially stem the housing crisis.
Québec solidaire is inspired by an American model of community land trusts where the State remains the owner of the land, which reduces the cost of purchase by regarding a quarter, according to the formation.
When selling the property, the buyer would have to return the house to the state, for a pre-agreed profit. He would also pay “low” rent to cover property taxes.
The houses would be purchased through the creation of a $1 billion fund, administered by the Société d’habitation du Québec and managed by local organizations.
How to choose buyers?
“To solve the housing crisis, we need more social housing, but also affordable houses for the middle class. This is the commitment I am making today: 10,000 affordable properties, everywhere in Quebec. 10,000 homes 25% cheaper, without risk and without overbidding, in a first term,” said QS spokesperson Gabriel Nadeau-Dubois.
It remains to be seen how lucky buyers would be chosen to benefit from this 25% discount on the regular price of a house. Mr. Nadeau-Dubois ensures that the first buyers would be given priority, but refuses to talk regarding a lottery system for the many people who are likely to show interest.
“It’s not the Quebec government’s job to decide, one by one, who is going to have a house,” he said. Local bodies will be responsible for determining the rules, he explains.
