Ottawa unlocks $20 billion in financing for rental development. Will it help B.C.'s housing crunch?

Finance Minister Chrystia Freeland announced Tuesday that Ottawa will raise the annual cap on the Canada Mortgage Bond program from $40 billion to $60 billion, making an additional $20 billion in financing available for developers looking to build rental units. B.C. Premier David Eby said the key concern for his government is ensuring that the federal programs sync up with provincial efforts to address housing affordability.

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