麻豆影视

Politics

    • Housing supply gets $10 billion boost; Feds add measures to curb speculation

    Share
    TORONTO -

    The Liberal government will try to ease Canada's housing crisis with more than $10 billion in funding meant to speed up home construction and repairs along with measures to cool the market and help those trying to buy their first home.

    鈥淭he central challenge in Canada when it comes to housing is a lack of supply. And this budget is about tackling that head on,鈥 said Finance Minister Chrystia Freeland in a press conference Thursday afternoon, before the government unveiled its latest federal spending plans.

    Freeland has committed to doubling the number of homes built each year over the next decade to about 400,000 to help meet the 3.5 million homes the government estimates are needed by 2031, but the plans rely heavily on co-operation with other levels of government and the private sector.

    鈥淲e recognize the federal government does not have all the tools to increase housing supply, so we've tried to be really creative and put forward ways that the federal government can work with municipalities, provinces and territories to drive housing supply,鈥 said Freeland.

    The spending includes $4 billion in a broad accelerator fund for municipalities to help with planning and delivery of housing, with a target of 100,000 new units over five years.

    There's also $1.5 billion over two years for upwards of 6,000 new affordable housing units through the Rapid Housing Initiative, $475 million for those facing affordability challenges, and the acceleration of $2.9 billion in already promised spending through a co-investment fund to provide housing to vulnerable Canadians.

    Other measures include $150 million for affordable housing in Northern Canada over the next two years, more than $600 million for new and existing programs to address homelessness, money reallocated to co-operative housing, and just over $1 billion for a variety of home energy efficiency initiatives, including loans and grants for greener affordable housing.

    Commitments also include $4.3 billion in spending for Indigenous communities over seven years, including $2.4 billion for on-reserve housing, though those figures are far short of what advocates say is needed.

    The Liberals say they will also leverage more than $40 billion in infrastructure funding to push cities and provinces to act faster on housing.

    The efforts to boost supply come amid an overheated market that saw prices climb more than 20 per cent since last year to hit a record $816,720 in February, while rental rates have also been rising.

    The budget will strive to deliver some pricing relief by banning foreign buyers from home purchases for the next two years, though there are exemptions for permanent residents, international students and refugees, and to tax home sales within a year of purchase as business income, though there are numerous exemptions for major life events.

    The Liberals have also announced a review of how much large companies buying homes is affecting the market, and what options such as tax measures they have to address the growing trend, but made no policy commitments on the issue.

    The government however needs to move faster to counter housing becoming an asset class, said Ricardo Tranjan, Ontario senior researcher at the Canadian Centre for Policy Alternatives, in a release.

    鈥淭his is yet another budget without measures to curb the financialization of housing. By this time next year, even more homes will be owned by speculators rather than by working families.鈥

    He said there were encouraging signs on housing but that the government should be making programs like the Rapid Housing Initiative permanent.

    鈥淭he federal government is definitely back into the housing game - and that's good news - but there's room to go bolder and do more for tenant families.鈥

    The budget also includes measures to help people trying to get into the market, including a new savings account and changes to the first-time homebuyers tax credit.

    Homebuyers in general will gain more protections through a bill of rights that is proposed to include a right to a home inspection, an end to blind bidding - a widely-used practice where sellers don't disclose competing bids - as well as potential mortgage deferrals and increased disclosures from real estate agents.

    Tim Hudak, chief executive of the Ontario Real Estate Association, welcomed the spending commitments, but said proposals to change how homes are sold, which include the end to blind bidding, would undermine consumer choice.

    鈥淭he commitment to ban the traditional offer process is a massive step back. It would unfairly target the financial nest egg of hundreds of thousands of families,鈥 he said in a release.

    There are, however, signs that the real estate industry is coming around to more transparent bidding after the Canadian Real Estate Association committed on Wednesday to pilot real-time tracking of bids on homes.

    This report by The Canadian Press was first published April 7, 2022.

    Get in touch

    What do you want to know about the budget? Email dotcom@bellmedia.ca.

    • Please include your name, location, and contact information if you are willing to speak to a journalist with 麻豆影视.
    • Your comments may be used in a CTVNews.ca story.

    IN DEPTH

    Opinion

    opinion

    opinion Don Martin: How a beer break may have doomed the carbon tax hike

    When the Liberal government chopped a planned beer excise tax hike to two per cent from 4.5 per cent and froze future increases until after the next election, says political columnist Don Martin, it almost guaranteed a similar carbon tax move in the offing.

    CTVNews.ca Top Stories

    Why brain aging can vary dramatically between people

    Researchers are uncovering deeper insights into how the human brain ages and what factors may be tied to healthier cognitive aging, including exercising, avoiding tobacco, speaking a second language or even playing a musical instrument.

    The union representing some 1,200 dockworkers at the Port of Montreal has overwhelmingly rejected a deal with their employers association.

    A man who was critically injured in a police-involved shooting in Hamilton late Sunday afternoon has died in hospital, says the province鈥檚 police watchdog.

    opinion

    opinion How to transition from renting to owning a home in Canada

    In his column for CTVNews.ca, personal finance contributor Christopher Liew offers a step-by-step guide on how to make the shift from renting to becoming a homeowner, and what you can start doing today to help the process go smoother.

    Prime Minister Justin Trudeau announced voters in Cloverdale鈥擫angley City will pick their next member of Parliament on Dec. 16.

    Canada

    • The union representing some 1,200 dockworkers at the Port of Montreal has overwhelmingly rejected a deal with their employers association.

    • A man who was critically injured in a police-involved shooting in Hamilton late Sunday afternoon has died in hospital, says the province鈥檚 police watchdog.

    • Nova Scotia's New Democratic Party says a candidate criticized by the Centre for Israel and Jewish Affairs for "troubling" and "damaging" social media posts is no longer running for the party in the Nov. 26 general election.

    World

    Politics

    • Murray Sinclair鈥檚 family members say the late justice and senator has been laid to rest according to his wishes.

    • Prime Minister Justin Trudeau announced voters in Cloverdale鈥擫angley City will pick their next member of Parliament on Dec. 16.

    Health

    • Why brain aging can vary dramatically between people

      Researchers are uncovering deeper insights into how the human brain ages and what factors may be tied to healthier cognitive aging, including exercising, avoiding tobacco, speaking a second language or even playing a musical instrument.

    • Researchers say taking a peek inside a person's brain is as difficult as understanding the universe or discovering the ocean in its entirety.

    Sci-Tech

    Entertainment

    Business

    Lifestyle

    Sports

    Autos

    Local Spotlight

    For the second year in a row, the 鈥楪ift-a-Family鈥 campaign is hoping to make the holidays happier for children and families in need throughout Barrie.

    Some of the most prolific photographers behind CTV Skywatch Pics of the Day use the medium for fun, therapy, and connection.

    A young family from Codroy Valley, N.L., is happy to be on land and resting with their newborn daughter, Miley, after an overwhelming, yet exciting experience at sea.

    As Connor Nijsse prepared to remove some old drywall during his garage renovation, he feared the worst.

    A group of women in Chester, N.S., has been busy on the weekends making quilts 鈥 not for themselves, but for those in need.

    A Vancouver artist whose streetside singing led to a chance encounter with one of the world's biggest musicians is encouraging aspiring performers to try their hand at busking.

    Ten-thousand hand-knit poppies were taken from the Sanctuary Arts Centre and displayed on the fence surrounding the Dartmouth Cenotaph on Monday.

    A Vancouver man is saying goodbye to his nine-to-five and embarking on a road trip from the Canadian Arctic to Antarctica.

    • Weather watchers were treated to an exceptionally rare display on Friday evening as rare cloud formations filled Vancouver skies.

    • For some shoppers it was Nov. 1, but for others the first hints of Christmas - saccharine treats, festive-fragranced candles and gaudily wrapped gift sets - were being noticed in stores long before the final Halloween decor had been cleared.

    • Thousands of people are expected to gather in downtown Vancouver on Monday to observe the city鈥檚 100th Remembrance Day ceremony.

    • A man who was critically injured in a police-involved shooting in Hamilton late Sunday afternoon has died in hospital, says the province鈥檚 police watchdog.

    • Toronto is expected to see an economic boost to the tune of nearly $300 million thanks to Taylor Swift鈥檚 upcoming Eras Tour, which will be making a stop in Canada鈥檚 largest city for a six-show run later this month.

    • A man is wanted after allegedly presenting himself as a rideshare driver then sexually assaulting a woman from Brampton late last week, say police.

    • A pair of 105-mm howitzers bark constantly as they turn plywood tank targets into kindling kilometres away on the windswept landscape of one of Canada's largest military bases.

    • Two semis were among the vehicles involved in a multi-vehicle crash that brought westbound traffic along Stoney Trail Northwest to a standstill on Sunday.

    • More than 700 people danced, ate, and sang to celebrate Diwali Saturday night at the Genesis Centre in northeast Calgary.

    • NEW THIS MORNING

      NEW THIS MORNING

      An Ottawa boy with a rare disease will be getting the chance to see Taylor Swift in concert after the winner and organizers of an auction held on his behalf gifted the tickets to him.

    • CTVNewsOttawa.ca looks at Remembrance Day ceremonies in Ottawa.

    • After months of controversy surrounding a dog park in Ottawa's west end, a solution has been reached to divide the park in half.

    • A First Nation near Quebec City says the provincial government and Quebec鈥檚 hydro utility have ignored their constitutional duty to consult about four planned wind projects south of the Saint Lawrence River.

    • The union representing some 1,200 dockworkers at the Port of Montreal has overwhelmingly rejected a deal with their employers association.

    • With fewer interments and rising maintenance fees, the money for Canada's largest military cemetery will run out in three to four years.

    • Monday is Remembrance Day, a time to honour armed forces members who have died in the line of duty.

    • Boasting 2,300 square metres of skating space at its new location, Edmonton's Rollers Roller Rink believes it is the largest in Canada.

    • A woman is dead after a driver crashed a truck through a Boston Pizza in Fort McMurray late Saturday morning.

    • Here鈥檚 what鈥檚 opened and closed across the Maritimes on Remembrance Day.

    • As Nova Scotia politicians make their fall election promises, Julie Leggett is urging them to commit to helping people on income assistance stay cool during heat waves.

    • A pillar in Canada鈥檚 history was honoured in Winnipeg Sunday afternoon, with thousands showing up to pay tribute to the life and legacy of the late Murray Sinclair.

    • Winnipeg police have identified two men involved in a stabbing incident earlier this week.

    • The Winnipeg Blue Bombers whipped the Saskatchewan Roughriders 38-22 in Saturday's CFL West Division final to earn their fifth consecutive trip to the Grey Cup.

    • Regina author Valerie Crowther is celebrating the release of her book 鈥榃ar Letters: Linking Lives in the Second World War.鈥

    • It was a somber day at Mosaic Stadium as members of the Saskatchewan Roughriders officially cleaned out their stalls and closed the book on the 2024 season.

    • Twilight Tech Arcade, an entertainment location specializing in retro gaming, is closing its doors for the foreseeable future.

    • A man has been charged after a stabbing at an apartment building in Kitchener.

    • The Guelph Police Service is putting out a warning after two deaths in the downtown area.

    • Two new tributes to Canada鈥檚 veterans have been unveiled at the Elmira Cenotaph.

    • Saskatchewan RCMP are searching for a suspect after a man was seriously injured in a farm-related incident in Montreal Lake.

    • It was a somber day at Mosaic Stadium as members of the Saskatchewan Roughriders officially cleaned out their stalls and closed the book on the 2024 season.

    • The Regina Rams claimed the Hardy Cup after a hard fought battle against the Saskatoon Huskies 19-14 on Saturday in the first all Saskatchewan U-Sports western conference final since 2002.

    • CTVNewsNorthernOntario.ca is livestreaming the annual Remembrance Day ceremony at the Sudbury Community Arena starting Monday at 10:30 a.m.

    • Police have arrested a 15-year-old in connection with a break-in and $50,000 in damage done to the Centennial Arena in Elliot Lake in September.

    • The events will start at 10:15 a.m. with a parade that forms up in front of the Delta London Armories, marches east on Dundas Street and turns north onto Waterloo Street to Dufferin Avenue, the west to the Cenotaph.

    • Emergency crews responded to the scene on Road 68/Highway 2 east of Thamesford around 7 p.m.

    • On Friday, the Sarnia Police Service (SPS) received a report of an alleged abduction in the area of Kathleen Avenue and Walnut Avenue.

    • A group of former NHL players faced off against York Regional Police officers in Newmarket Sunday afternoon to raise funds for Special Olympics programs across the province.

    • A driver is facing multiple charges after a multi-vehicle collision on Highway 400 early Sunday morning.

    • The agreed statement of facts was read to the court on Friday in the case of Alex Williams, the 24-year-old jail guard charged last fall with smuggling cannabis and tobacco into Central North Correctional Centre in Penetanguishene.

    • For Gene Lotz, the spark of curiosity to delve into the history of those who served in war only began when the answers became difficult to find.

    • A Tilbury race car driver and his team are partnering with St. Clair College to give students a chance to see their design circle a racetrack. Driver Nathaniel Greenaway said the competition challenged third-year graphic design students to draft a wrap for his car ahead of next season.

    • One person has been arrested after Chatham-Kent Police Service (CKPS) received multiple complaints about an alleged drunk driver.

    • Environment Canada says heavy rain and winds could cause power outages on Vancouver Island as an "intense" storm system is set to hit the B.C. coast Sunday.

    • Six deer were struck by vehicles in six different locations in a six-hour period on B.C. highways on Saturday, according to the transportation ministry.

    • The union for locked-out port workers in British Columbia says the BC Maritime Employers Association cut off talks in less than an hour Saturday, refusing to budge on a final offer that the union has so far rejected.

    • The emergency department at South Okanagan General Hospital in Oliver, B.C., will be closed for 31 hours this weekend, the second such closure in a week and the third since the start of November.

    • Police in Kamloops, B.C., are reminding parents and guardians to check their children's Halloween candy after receiving a report of a mother finding a razor blade in one of her daughter's treats.

    • More than two years after Alannah Brown and Douglas Barker were found dead north of Penticton, police are asking for help identifying a vehicle they believe was associated with the crime.

    • The Southern Alberta Recreation Association is officially announcing the Town of Taber as next year鈥檚 host for the Southern Alberta Summer Games.

    • The Lethbridge Hurricanes broke open a close game with three goals in the first two minutes of the third period as they defeated the Warriors 7-3 in a game played Friday night in Moose Jaw.

    • There might not a lot snow just yet, but many southern Albertans are still itching to get outdoors.

    • Police have arrested a 15-year-old in connection with a break-in and $50,000 in damage done to the Centennial Arena in Elliot Lake in September.

    • Mayors of the five largest cities in northern Ontario met in North Bay the last two days to discuss a range of critical issues impacting their cities and the region.

    • Residents in the Sault expressed concerns ranging from vandalism to privacy invasions during recent consultations on the city's plan to install automated speed enforcement cameras.

    N.L.

    Stay Connected
    Follow 麻豆影视