Canada housing crisis: Trudeau announces $1.5B Rental Protection Fund | FULL

Canadian Prime Minister Justin Trudeau was in Winnipeg on Thursday where he announced the federal government would start a $1.5- billion Canada Rental Protection Fund ahead of the 2024 federal budget.

Trudeau says the fund will "mobilize investments in financing from the charitable sector, the private sector and other orders of government in order to maximize the ability to acquire and protect affordable housing."

"We need more affordable buildings just like this one, right across the country. Unfortunately, too many of those places are under constant threat of being demolished to build condos or sold to speculators and large corporations that will increase rents at turnover," the PM said.

"We have to help non-profits and community partners acquire units and preserve rents at a stable level," Trudeau added.

The federal budget is set to be tabled on April 16.

For more info, please go to https://globalnews.ca/news/10396946/fourplex-housing-budget-2024/

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