From Global News.

Canadian Prime Minister Justin Trudeau is set to make a housing announcement during a visit to Vancouver, B.C., on Friday.

This announcement comes as major cities in Canada are seeing their first annual decrease in rental prices since October 2021. Vancouver saw a 9.1 per cent year-over-year drop on a one-bedroom apartment, with Toronto prices dropping an average of 8.7 per cent.

Trudeau’s remarks also come a week after Trudeau and Immigration Minister Marc Miller announced reduced immigration targets for the next three years – which some experts say will have an impact on housing affordability as early as 2025.

Later Friday, Trudeau will meet with the province’s premier, David Eby and then attend a local Liberal fundraising event.

For more info, please go to https://globalnews.ca/news/10858504/canada-asking-rent-drops/

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