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Federal advocate calls for urgent action to address housing crisis – MPA Mag

16 Feb. 2024

Canada’s housing affordability crisis is exacerbated by the increasing “financialization” of the rental market, warns federal housing advocate Marie-Josée Houle.

Houle addressed the House of Commons Standing Committee on Finance this week, highlighting that 20% to 30% of Canada’s rental housing stock is now in the hands of institutional investors.

“First of all, the financialization of housing and the negative effects (must be dealt with). And the government must address that situation,” said Houle. “Secondly, the protection of renters must be a priority. And finally, the government must invest in increasing housing availability across the market.”

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