Canada: In bid to quell housing crisis, regime launches $6 billion housing fund

Source: Reuters

“Prime Minister Justin Trudeau on Tuesday launched a C$6 billion ($4.42 billion) Canada Housing Infrastructure Fund to accelerate the construction and upgrading of housing. Canada faces a housing affordability crisis as a rapidly increasing immigrant population has far outpaced the number of available homes, leading to increases in prices and rents. High inflation and 22-year high interest rates have also driven up mortgage costs. The opposition has slammed the government for being slow to build more homes and the crisis is seen as one of the reasons for a slump in Trudeau’s polling numbers. The fund is one of the many schemes proposed by the government to spur construction of houses and will be a part of the upcoming budget on April 16.” (04/02/24)