2021 Budget For Housing

In an effort to address the housing crisis in Canada, which has been exacerbated by the COVID-19 pandemic, the federal government's 2021 Budget plans to invest and reallocate significant funds to speed up the construction, repair, or support of 35,000 affordable housing units across Canada. The budget aims to help low-income Canadians, people experiencing homelessness, and vulnerable populations find affordable housing.

The budget proposes to provide an additional $2.5 billion over seven years to Canada Mortgage and Housing Corporation, including:

• $1.5 billion for the Rapid Housing Initiative to address the urgent housing needs of vulnerable Canadians by adding a minimum of 4,500 new affordable units to Canada's housing supply in short order;