On April 1st, Canadian Liberal Party leader Carney announced on Monday that if the Liberal Party is re elected, the government will create a new entity called “Build Canada Homes”, which will serve as a developer to build affordable housing, including on public land. During his campaign in the Toronto area, Carney stated that the entity will also provide over CAD 25 billion (USD 17 billion) in financing to Canadian prefabricated housing builders, including those using Canadian technology and resources such as cork. It will provide an additional $10 billion in low-cost financing and capital to affordable housing builders. After World War II, the Canadian government built tens of thousands of affordable housing for veterans and their families. Due to decades of insufficient housing construction and post pandemic immigration waves, Canada is currently facing a new housing crisis. Carney believes that it is time for the government to start providing funding for housing construction again.
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