Canada committing $40 billion to housing

While Australia’s Commonwealth Government appears to be asleep at the housing affordability wheel, the Canadian Government yesterday announced it would commit $40 billion over 10 years to a National Housing Strategy (NHS), which will leverage partnerships with provinces and territories to achieve results. Canada’s housing affordability has declined dramatically due to many of the same issues faced in Australia, including a housing taxation system that rewards home owners with capital gains concessions and other tax breaks.

The NHS includes:

  • A doubling of funding for homelessness services
  • A portable housing benefit for 300,000 people
  • 100,000 new units of affordable housing (including First Peoples housing)
  • 300,000 refurbishments
  • A legislated ‘right to housing’ which will ensure that people at risk of, or who experience homelessness, are assisted to get access to safe and affordable housing

Read more about Canada’s National Housing Strategy here, and resist the temptation to apply for Canadian citizenship.