Canada Govt Aims At Increasing Housing Affordability

With groceries growing costlier and sky-high housing prices showing no sign of dropping, Canadians are laser-focused on the issue of affordability. The throne speech outlined the government’s promise to build more housing units per year, to increase affordable housing, and to end chronic homelessness, all through using programs like its proposed $4 billion Housing Accelerator Fund and its “more flexible” First-Time Home Buyer’s Incentive. The government also promised to bring about a rent-to-own program, which the 2020 Liberal platform says will “help make it easier for renters to get on the path towards home ownership while renting.” Finally, Trudeau’s speech promises to increase the Canada Child Benefit in line with the cost of living. By touching on affordability and cost of living, the government is zeroing in on a problem that has been top of mind for Canadians, according to a recent Ipsos poll. That poll, found concerns about rising price tags on essentials like groceries and gas are now outranking issues like the COVID-19 pandemic, health care and housing as Canadians’ top concern.