One of the biggest pressures on young people right now is housing, and this is true for Canadians right across the country. We’ve already taken bold action to build more homes, faster, improve access to housing, and make homes more affordable – and we know there is more to be done.
I feel like I haven’t seen anyone talking about this press release here and I’m curious about what people think.
“$15 billion top-up to the Apartment Construction Loan Program to build a minimum of 30,000 new apartments.” Edit to add: “With this top-up, the program’s financing is on track to build over 131,000 new apartments within the next decade.”
“new reforms to the Apartment Construction Loan Program to increase access to the program and make it easier for builders to build”
“Launching Canada Builds – partnering with provinces and territories to build more rental housing across the country”
“Yesterday, we announced a new $6 billion Canada Housing Infrastructure Fund and a $400 million top-up to the Housing Accelerator Fund to ensure communities have the infrastructure they need to grow and build more homes”
Is this more lip service or are these genuinely working in the right direction to increase housing?
Canadians can deduct interest on debt that is used to improve a property.
I haven’t had the pleasure of using this, but AFAIU it means a home owner gets the same capital gains benefits on borrowing to renovate their basement as making a good investment in the stock market.
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Canadians can deduct interest on debt that is used to improve a property.
I haven’t had the pleasure of using this, but AFAIU it means a home owner gets the same capital gains benefits on borrowing to renovate their basement as making a good investment in the stock market.
That sounds like something that might be applicable to an investment property. Have you heard that it applies to the primary residence?
I think you’re right. My source for that was this site, but I don’t see anything on canada.ca.