Feds to Receive Historic Human Rights Recommendations to Address Financialization of Rental Housing

OTTAWA (May 28, 2024): Tomorrow marks a historic milestone for the human right to housing in Canada as the final recommendations from the country’s very first review panel on the financialization of purpose-built rental housing are set to be released.

The review panel, a human rights mechanism introduced under the National Housing Strategy Act, delved into the issue of financialization’s impact on renters in Canada, exploring the connection between financialization practices and their repercussions on housing affordability, tenant rights, and community well-being.

“Last week we heard from the Parliamentary Budget Office on how Canada needs to up its spending on homelessness—this week will hear from the review panel with findings from hearings last year on how financialization is driving the housing crisis, and what needs to be done to fix that,” says Michele Biss, the National Director of the National Right to Housing Network.

Having received over 190 written submissions and hosting 8 oral hearing sessions, the review panel engaged extensively with civil society, housing and human rights experts, and those from marginalized communities. Hundreds of people from across Canada gave evidence and testimony, with their stories highlighting the connection between financialized rental housing to increased rent hikes, evictions, poor maintenance, community displacement, and more.

This review panel was a huge step forward in ending Canada’s housing crisis, as it provided an opportunity for everyday people (especially those from marginalized communities) to take part in identifying systemic issues in Canada’s housing market and propose solutions to government.

“The Review Panel recommendations have been anticipated from community with bated breath, this is the first time people who have experienced violations of the right to housing have been able to use this hearing system to genuinely demand housing justice,” says Alex Nelson, the National Right to Housing Network’s Community Engagement and Research Specialist.

As the findings are unveiled, the spotlight will turn to the federal government, specifically the housing minister, who will have 120 days to respond to the panel’s recommendations. The response will be closely watched by advocates, civil society, and lived experience experts across the country, eager to see concrete actions taken to address the urgent challenges highlighted by the review.

For more information visit, www.housingrights.ca 

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Quick Facts:

• The second review panel on Canada’s failure to prevent and eliminate homelessness amongst women and gender-diverse people, and particularly those who are Indigenous, was announced last year and is expected to launch mid 2024.
• Federal Housing Advocate just recently completed her human rights-based review on Canada’s homeless encampments.
• Budget 2024 takes steps towards making the fundamental human right to adequate housing a reality in Canada by demonstrating national leadership in addressing critical areas like tenant rights, affordable housing, and homelessness.
• While Budget 2024 introduced some investments to tackle homelessness, a new report from the Parliamentary Budget Office shows that Canada would still need to spend an additional $3.5 billion each year to reach the goal of reducing chronic homelessness by 50%.

For more information, contact:

Jessica Tan
National Right to Housing Network
Phone: 902-247-4356
Email: jessica@housingrights.ca