Source: Reuters

Date Published:  9/14/25

Link: Canada Announces New Federal Agency to Build Affordable Housing

The Canadian government announced the creation of a new federal housing agency, Build Canada Homes, with C$13 billion in funding. The agency’s mission is to accelerate the construction of affordable homes across the country for low-income households, while also working with private developers to build housing aimed at the middle class. Carney said the agency will help reduce risks for builders by cutting upfront costs and leveraging public land for housing. He framed the initiative as part of his government’s efforts to improve affordability and reduce homelessness, noting that his party’s platform also pledges to increase home construction. The announcement comes as Canada faces a growing budget deficit, driven in part by the U.S.-led tariff war, which Carney said the government is responding to by diversifying the economy and reducing reliance on a single trading partner.