Here's How Justin Trudeau's Government Plans To Make Buying A House More Affordable In Canada

The federal government is planning to make buying a house in Canada more affordable and explained how it would get done.

During the throne speech on November 23 that opened the new session of parliament, Justin Trudeau's re-elected government outlined their goals and how they'll achieve them which included steps to reach housing affordability.

"As we put the pandemic behind us, we need to rebuild an economy that truly works for everyone," Trudeau said in a statement after the speech. "That means tackling the rising cost of living and taking action on housing affordability."

The federal government plans to take action by building more housing units each year, increasing affordable housing and "ending chronic homelessness."

They are proposing a Housing Accelerator Fund which they claim would help municipalities build more while doing it better and faster.

Also, to help people in Canada buy their first home, the government has listed other program names, like First-Time Home Buyer's Incentive, Rent-to-Own, and "reducing closing costs for first-time buyers."

Recently, reports have come out that revealed how difficult it is to afford a home in Canada including one that showed buying a house is the hardest its been since the 1980s and another that said Toronto's real estate is so expensive that people need to save for almost 30 years to buy a place.

However, when compared to other countries, a new study found that Canada is one of the most affordable places to buy a home in the world based on how much homes cost in relation to average salaries.

Here’s How Much Money You Need To Earn To Afford A Home In Different Cities Across Canada

Those earning six figures will still need to save for 20+ years in some cities. 😭

It's time to start saving, Canada! A new report from the National Bank of Canada has revealed exactly how much money you need to be making to afford a house in some of Canada’s biggest cities — and nope, it’s not good news.

According to the data, shared in November 2021, housing affordability in Canada continued to get worse throughout the summer and into the fall of this year.

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Housing affordability has made homeownership a pipe dream for some people in Ontario, with prices rising and not expected to get any cheaper anytime soon, according to RE/MAX.

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He's back and he's not pulling any punches! Jagmeet Singh's latest TikTok has him taking aim at Justin Trudeau's government for being "all talk no action."

After the throne speech on November 23 where the federal government outlined its plans including one for making housing more affordable, Singh took to TikTok and posted a video of him lipsynching to "Number One Spot" by Ludacris.

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You Can Build Your Dream House At The Bottom Of This Ski Hill In BC Listed For $99K

Your ski-in, ski-out dreams could become a reality ⛷️

There is a property for sale right now at the bottom of a ski hill in B.C., perfect for building a dream chalet.

If you love a unique real estate opportunity, this is about as good as it gets.

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