Supply Is The Solution
In a significant move to boost housing supply, the federal government has unveiled a groundbreaking initiative following six months of record-high rental rates. A substantial $1.2 billion in low-interest loans is earmarked for the construction of 2,644 rental homes across seven new projects in Toronto. This aligns with Toronto's ambitious plan to build 65,000 new rent-controlled homes by 2030, with funds totalling $30-40 billion, or approximately $500,000 per home. While these measures addres...