Unlocking housing construction and launching Canada Builds (www.pm.gc.ca)

submitted 1 year ago* (last edited 1 year ago) by JohnnyCanuck@lemmy.ca to c/canada@lemmy.ca

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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?

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[-] avidamoeba@lemmy.ca 1 points 1 year ago

What mortgage tax benefits?

[-] sbv@sh.itjust.works 1 points 1 year ago

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.