Affordable Housing
December 31, 2007

Canada recently marked National Housing Day which provided this Conservative government the opportunity to recognize and celebrate the accomplishments of the many individuals and groups working together to advance affordable housing solutions across Canada and address the issue of homelessness.

Most Canadians are well served by Canada's housing market, making us one of the best housed countries in the world. But we cannot lose focus of those citizens who are in need.

In the recent throne speech, the federal government renewed its commitment to continue to invest in Canadian families and their futures, and to help those seeking to break free from the cycles of homelessness and poverty.

We have a practical plan to provide affordable housing and combat homelessness and we're delivering on it. In fact, total annual federal spending on housing in Canada has never been higher.

The results are inspiring. I have participated in affordable housing project openings in this constituency of Vegreville-Wainwright and I share the hope for the future that these new homes will provide. There's a real feeling of optimism -- because stable, long-term housing is the first step towards fully participating in our communities.

These projects have involved the combined efforts of many dedicated individuals and organizations and their efforts deserve recognition.

My government is committed to helping all Canadians access a wide choice of quality, affordable homes, while making vibrant, healthy communities and cities a reality across the country. In fact, funding was recently announced to provide 24 new housing units for low-income families, including four accessible units, in Vegreville.

We have invested $1.4 billion in three provincial and territorial housing trusts to address short-term pressures on the supply of affordable housing, over three years. Through the federal-provincial Affordable Housing Initiative, we are investing $1 billion. This is being matched by provinces, territories and others, including municipalities and community groups.

This is in addition to the $1.8 billion Canada Mortgage and Housing Corporation (CMHC) spends annually in support of some 630,000 lower-income households across Canada.

We also invested $526 million, over the next two years, for the new Homelessness Partnering Strategy, aimed at combating homelessness in communities across Canada, and to extend CMHC's renovation programs for low-income people, including aboriginal peoples.

For our First Nations, home ownership remains below the national average and many living on reserves don't know the feeling of owning their own home. In April, we announced the creation of the $300-million First Nations Market Housing Fund. This innovative approach will improve housing on reserves, increase the housing supply and provide First Nations families and individuals with a means to build equity and generate wealth which will lead to lower dependence on taxpayers’ money.

In addition to direct financial investments in housing programs, a variety of flexible mortgage loan insurance products from CMHC are helping Canadians access their housing of choice.

Through CMHC, we also are helping to advance affordable housing solutions by working with private, non-profit and public sectors.

Together, we can build and maintain safe, affordable housing that makes our communities better places to live, work and grow.