Everyone should have a safe and affordable place to call home. But that goal—one that was taken as a given for previous generations—is increasingly out of reach for far too many middle class Canadians. Today, the Prime Minister spoke in Hamilton about how Budget 2022 will help Canadians rent or buy a home, protect renters and homebuyers, and build new homes across Canada. Housing measures in Budget 2022 include:

• Introducing the Tax-Free First Home Savings Account to make it easier for young Canadians to save for their first home;
• Doubling housing construction across Canada over the next 10 years to address supply issues in the housing market;
• Launching a new $4 billion Housing Accelerator Fund to support and incentivize municipalities to build more homes faster;
• Taking initial steps to develop a Home Buyers’ Bill of Rights and bring forward a national plan to end blind bidding;
• Banning foreign buyers from owning non-recreational residential property for two years; and,
• Introducing a Multigenerational Home Renovation Tax Credit, which provides up to $7,500 in support for constructing a secondary suite/apartment.