Fall economic update tackles housing affordability

The federal government unveiled its fall economic update yesterday, including an array of measures aimed at improving access to affordable housing. Finance minister Chrystia Freeland announced up to $15 billion in loans to incentivize construction of rental units. Another $1 billion would be set aside for an affordable housing fund that would support the building of 7,000 new homes in co-op, non-profit, and public housing settings. The government also signalled its intention to create a new Department of Housing, Infrastructure, and Communities.