Trudeau Is Reportedly Promising To Help Canada's Most Expensive Cities Lower Housing Costs
He said that houses are out of reach for too many Canadians.
On Tuesday, June 1, Justin Trudeau spoke to the Federation of Canadian Municipalities regarding the cost of housing in Canada.
According to Global News via the Canadian Press, Trudeau promised that he would provide federal resources towards efforts to make housing more affordable in Canada's most expensive cities.
He said that housing costs are generating a crisis for not only young Canadians but middle-class families, too. The prime minister said that his government will look into solutions beyond what's currently in the plans.
Apparently, Trudeau will be getting in touch with provinces and territories about the future of housing affordability in Canada.
During his address, he reportedly noted that the average family in Toronto may have to save for up to 280 months to afford a down payment in the city. A recent report actually noted that it would take an average household income earner 297 months to afford a down payment in Toronto.