Canada, Ontario in deal for affordable housing amid soaring home costs

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TORONTO - Canada's government and the province of Ontario struck a C$357 million deal on Tuesday to allocate federal funds to build affordable housing in the country’s most populous province to help alleviate a housing crisis after Ontario provided a revised action plan outlining its goals.Canada currently faces a housing affordability crisis with a growing population that is outpacing the number of available homes, increasing home prices and rents.

“Canada and Ontario recognize that our collaboration is imperative to solving the housing crisis,” said Federal Housing Minister Sean Fraser and his provincial counterpart in the statement.

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