The housing measures announced to help with affordability in the 2024 federal budget

The federal government has set its sights on addressing housing affordability in its 2024 federal budget. Prime Minister Justin Trudeau and his cabinet have been under pressure to deal with the housing crisis, which has largely been driven by supply and demand, immigration, rental inflation, high interest rates, labour shortages and more.

In an effort to address the issues, Ottawa has announced a spate of new housing initiatives, some of them prompting criticism from provincial governments, including Quebec and Ontario. Most of the new initiatives were announced ahead of the budget, and the federal government says they are part of a strategy to add 3.87 million new homes by 2031. Here are some highlights from the budget.