Canada announces new federal agency to build affordable housing
- Nor Yu
- Sep 15
- 1 min read
Canada just announced a new government agency called Build Canada Homes with about 13 billion dollars to spend. The goal is simple: make more affordable homes. Some will be for families struggling with high rents, and some will be for middle-class Canadians who feel priced out of the market.
The government plans to use public land and cut upfront costs so developers can actually build faster and cheaper. Prime Minister Mark Carney admitted the country is in a housing crisis, and this agency is meant to be a big part of the fix.
But it won’t be easy. Building homes means working with local governments, developers, and communities, which can slow things down. Money is also a question: housing projects usually need more support over time, not just at the start.
If it works, the payoff could be huge. More homes would help ease rents, reduce homelessness, and make it easier for people to live closer to work. In the bigger picture, it could also boost the economy and give families some breathing room.
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