Trudeau Announces $1.5 Billion Rental Protection Fund

Prime Minister Justin Trudeau has announced his government will put forth a $1.5 billion rental fund, which he says will help non-profit organizations buy rental units and keep prices affordable for renters. The Canada Rental Protection Fund will be included in the upcoming federal budget, to be tabled on April 16. “People are being priced out of their communities, and that’s not okay. So we have to help nonprofits and community partners acquire units and preserve rents at a stable level,” Mr. Trudeau said during a press conference in Winnipeg on April 4. The fund includes a loan portion valued at $1 billion and $470 million for contributions to non-profits. The prime minister said the loans for non-profits will be used to buy, renovate, and preserve residential buildings, instead of having the buildings go to speculators or profiteers....