Canada has launched an ambitious plan to address its housing shortage by leasing underutilized public lands for the development of affordable homes, as announced by Prime Minister Justin Trudeau. The initiative aims to construct nearly 3.9 million houses by 2031, utilizing sites like abandoned industrial parks and under-enrolled schools. However, this effort still falls short by 1.2 million units according to the Canada Mortgage and Housing Corp. Amid rising housing costs and a looming election, the government has introduced several measures, including tax structure changes and enhanced fraud prevention, to stimulate construction and manage prices. Housing Minister Sean Fraser highlighted new incentives for builders, but experts like Mike Moffatt from the Task Force for Housing and Climate indicate that a considerable investment of C$2 trillion is necessary to meet these goals. This plan is part of a broader strategy discussed ahead of the upcoming federal budget, reflecting Canada's proactive stance on a pressing national crisis.
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