Housing prices here in Canada just keep going upwards, regardless of whether you’re looking at apartments, condos, or regular old houses. To the point where it’s becoming increasingly difficult for your average citizen to ever actually own a home.

That’s not something you might want to hear, especially if you’re a young person aiming to be a first-time buyer eventually. Well the good news is, the Canadian Federal Government recently announced plans to build some affordable homes.

Last month the announcement was made by Jonathan Wilkinson, the Minister of Fisheries, Oceans, and the Canadian Coast Guard, that the federal government would be using a whopping $400 million to build 2000 housing units across Canada. Here’s some of what he had to say:

With the federal government’s strategic investment in affordable housing providers this will undoubtedly open up new growth opportunities in the housing sector, and facilitate the development of more affordable housing stock in our city. This forward thinking solution is exactly what the National Housing Strategy’s Affordable Housing Innovation Fund is all about. I am looking forward to seeing the results of our government stepping up to help HI-C effectively meet the growing demands for affordable housing not only in the Great Vancouver Area, and B.C., but across Canada.

 

– Jonathan Wilkinson, Minister of Fisheries, Oceans and the Canadian Coast Guard

The first two such projects announced were for Vancouver and Edmonton, for two big housing buildings costing a combined $33 million. The projects will be aimed at low-to-medium income homes.

So what does this mean for Mississauga? Well we have our fingers crossed that we’ll get at least one of these new projects in one of Mississauga’s developing areas. Whether that is Clarkson, Cooksville, or even around Square One. A new and affordable housing development in those areas could make Mississauga a true destination for more than just the wealthy. Let us know where you’d like to see affordable homes, and if it’s something you would be interested in.