Thank you, Mr. Speaker. Today I’d like to talk about insurance for what is usually the most expensive item that an individual or even a family will ever purchase and that is the family home. For many people who are out there buying new homes, they’ll find that they’re either very limited or there is no warranty at all for their new home purchase.
Mr. Speaker, that’s certainly not right, because if you go down today to Canadian Tire to buy a lawnmower and it doesn’t work, you can take it back because it has a warranty.
Mr. Speaker, if you go down to YK Chrysler and buy a new car, it comes with a warranty too, but shame on the fact that a home does not carry one and we don’t have legislation in place to protect the new homeowner.
Mr. Speaker, in Alberta, new home warranty programs have been operating since the 1970s. It offers protection to home purchasers who buy a home constructed by a builder who is a member of their program. Mr. Speaker, B.C. has even thought this out and their contractors must be licensed as well. I am not suggesting that we create a whole new Crown corporation and bureaucracy to oversee this homeowner legislation, but, Mr. Speaker, what I see is a huge gap about clear responsibility to protect the new home buyer and the difference between the contractor and who will be left holding the bag if something goes wrong.
Mr. Speaker, the Northwest Territories is facing significant shortages in affordable housing. Mr. Speaker, it was not more than a week ago that the Minister of Finance was talking about our 18 percent vacancy. Mr. Speaker, the real problem comes down to this, it is difficult to attract people when there are no new homes for people to move into. Mr. Speaker, with rapid development potentially on the horizon with things like the Mackenzie Gas Pipeline, what will happen here is potentially unqualified people will call themselves builders and they will be out building houses as quick as possible to make their quick sale. But who will be left holding the bag? That new purchaser of that home.
Mr. Speaker, the solution is quite simple. We need legislation to help protect people to ensure that if deficiencies arise, the contractor leaves town or goes bankrupt, the new homeowner isn’t left holding the bag. Mr. Speaker, land titles in this territorial government has an insurance fund that protects people if the land transaction has
problems. Mr. Speaker, where does a family go when they put everything that they have had into the deposit, into their dreams, into their opportunities of life with great hopes, and everything is sunk quickly because something goes bad? Mr. Speaker, they are the ones left holding the bag. Mr. Speaker, later today I will have questions for the Minister of Municipal and Community Affairs to talk about the need for legislation to protect new home buyers. Thank you, Mr. Speaker.
