Young Nova Scotians deserve a future with homes they can afford

HALIFAX –Young people in Nova Scotia deserve a government that will prioritize their ability to put down roots and own a home they can afford. This dream is slipping out of reach as housing prices continue to rise sharply.

During the last election, Premier Tim Houston promised to make it easier for Nova Scotians to own a home. Almost three years later, buying a home has only gotten more difficult.

Bill Macgregor is a young professional in his early 30s, but he still feels as though homeownership is out of reach.

“I’m lucky to be in a relatively stable position, but I’m terrified that I will have to move out of my apartment someday and not be able to find anything I can afford. I’ve had to put my long-term plans on indefinite hold hoping that something will change, but so far the housing crisis is just getting worse,” he said. “We need drastically more supply in both the public and private housing sector and better renters’ rights and protections.”

An RBC study from last year found that more than two-thirds of Canadians aged 18-34 felt that buying a home is more out of reach compared to their parents.

According to the Nova Scotia Association of Realtors, the average house in Nova Scotia costs around $452,000. The average rent of a two-bedroom unit in Halifax is more than $2,400, an increase of 11.5 per cent from the previous year.

“Younger Nova Scotians are feeling frustrated, and they should. Wages have not kept up with the cost of living and they are in a worse position financially than the generation before,” said NSNDP leader Claudia Chender. “We need a province where Nova Scotians can envision a future for themselves and their families, and that just isn’t happening under the Houston government.”

The NSNDP plans to address housing affordability through its Homes Within Reach plan, which includes rapidly building more truly affordable housing, implementing a renters’ tax credit and stronger protections, and further expanding the Down Payment Assistance Program.

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