APRIL 12th, 2025 – Canadians have long held home ownership as a cornerstone of financial stability — a place to raise a family and, over time, build equity through hard work, sacrifice, and responsible financial planning. But under a looming Carney-led Liberal government, that equity may no longer be safe.
As reported in the Western Standard, indications from inside the Liberal establishment suggest a disturbing trend: growing interest in taxing the equity Canadians have accumulated in their homes. Not income. Not capital gains. The very value sitting inside your home.
This isn’t mere speculation. Since 2020, the Canada Mortgage and Housing Corporation (CMHC), a federal Crown corporation, has been pouring taxpayer dollars into studies that explore taxing home equity. These studies — which the Liberal government has quietly backed — frame rising home values not as the result of hard work or prudent investment, but as a “windfall” or even a “lottery.” In other words, something to be clawed back.
As Carson Binda wrote in the Toronto Sun, “Why spend money on something you have no intention of following through with? And let’s be clear — the Liberals are spending lots of time and money dreaming up new ways to tax your home.”
Now, as former Bank of Canada Governor Mark Carney positions himself as the next elected Prime Minister, the threat has taken on a new level of urgency. Carney has a long history of endorsing global financial re-engineering, previously championing “The Great Reset” at the height of the Covid pandemic. His public speeches and policy positions align with the very kind of socialist/redistributionist logic that underpins proposals like a home equity tax. And while the current Liberal government denies they’re pursuing such a tax, the repeated funding of these studies — and the refusal to rule it out — tells another story.
In 2021, the Liberals even ran a candidate, Jason Hickey, who openly supported a home equity tax. The party distanced itself from the remarks after public backlash, but only after the damage was done. And the CMHC-funded report that caused a public outcry — produced by academics at UBC — is still readily available, advocating ways to “unlock” the equity trapped in Canadian homes through annual taxation.
The implications are enormous. For millions of Canadians, home equity isn’t a luxury — it’s their retirement plan, and what they plan to leave their families. It’s what they’ve worked decades to build. And now, under a Carney Liberal vision, it may be up for grabs.
This isn’t just a policy debate. It’s a warning. The studies have been written, and the ideological groundwork has been laid. And Canadians may soon find that the next Liberal government sees their home not as a sanctuary — but as a source of untapped revenue.
Related: Concerns Grow Over Carney-Liberal Home Equity Tax
- With reporting from Victor P.
