this post was submitted on 12 Apr 2024
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Unlocking housing construction and launching Canada Builds (www.pm.gc.ca)
submitted 9 months ago* (last edited 9 months ago) by [email protected] to c/[email protected]
19 comments fedilink hide all child comments
 

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 programโ€™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 โ€“ 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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[โ€“] [email protected] 1 points 9 months ago (1 children)

What mortgage tax benefits?

[โ€“] [email protected] 0 points 9 months ago (1 children)

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.

[โ€“] [email protected] 2 points 9 months ago (1 children)

That sounds like something that might be applicable to an investment property. Have you heard that it applies to the primary residence?

[โ€“] [email protected] 2 points 9 months ago

I think you're right. My source for that was this site, but I don't see anything on canada.ca.