Ann says she would like to move but simply can’t afford it. A comparable apartment would cost nearly $1,000 more per month than she pays now, and her rent would exceed her fixed income. As it is, Ann spends nearly half her income on housing.
The rising cost of housing in Ontario hit renters and wannabe homebuyers harder in the first two years of the pandemic than in any similar time frame in recent Canadian history, a new report says.
Measures in the recently tabled federal budget will help Canadians weather higher interest rates, Prime Minister Justin Trudeau said on Wednesday, April 13, 2022, as he acknowledged there are no easy solutions to the country's housing affordability crisis.
Advocates say while the focus on housing affordability in the federal budget is promising, its measures could go further to help people in the most dire need.
Ahmed Hussen says tamping down on the rush for investment properties and flipping, as well as discouraging foreign investors from holding on to vacant homes, is also part of a push to rein in rising home prices.
Liberal Leader Justin Trudeau unveiled his party's housing plan Tuesday, but real estate industry members are concerned it won't do much to alleviate a lack of supply.
There had been a few names floating around when the Liberals were seeking a candidate for the newly created riding of Vancouver Granville in the last federal election, but it soon became clear the party brass had only one person in mind.
Conservative Leader Andrew Scheer says the economy has become such a mess under the Liberals that it would take a Conservative government five years to clean it up.