Trudeau proposes new reforms for renters amid housing crunch
Prime Minister Justin Trudeau has announced new measures he says will help protect Canadian renters and help them break into the housing market ahead of the 2024 budget.
He said Wednesday that the proposed three new reforms will “make the playing field fairer for renters” amid an affordability crisis making homeownership out of reach for many.
Wednesday’s press release notes that the new measures are both about protecting renters and about “generational fairness” for millennials and Generation Z, who make up a large part of Canada’s rental market.
A Statistics Canada report Wednesday highlighted a number of affordability issues staring down renters and younger generations that put them at risk of missing key financial milestones, particularly achieving the dream of homeownership.
“Sustained food inflation, elevated housing prices, and increasingly unaffordable rental costs across much of the country are casting a shadow over the homeownership dream for many households — and, in particular, for young families,” the report says. |Read more https://globalnews.ca/news/10387043/trudeau-renter-reforms-2024-budget/| globalnews.ca/news/10387043/tr…
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