Kirsty Duncan
Hon. Kirsty Duncan
Member of Parliament for Etobicoke North
Protecting and Expanding Affordable Housing
May 21, 2024

One of the biggest pressures on people right now is housing, especially for young Canadians and low- and middle-income families who rent. Budget 2024 announced a new $1.5 billion Canada Rental Protection Fund to create new affordable housing options and make sure existing units aren’t lost to investors, demolition, and rent increases. To stop people from being priced out of their communities, the government is also helping non-profits acquire affordable units — and keep them affordable. 

The government is also creating the Canadian Renters’ Bill of Rights and Tenant Protection Fund, to protect renters from steep rent hikes, renovictions, and bad landlords – because they shouldn’t have to face these challenges alone. 

When renters decide to transition to homeownership, they also deserve credit for the money they’ve put towards rent over the years. The government is calling on banks, lenders, landlords, and fintechs to use on-time rent payments to help Canadians gain credit and qualify for a mortgage. 

 

 

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