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Ottawa Drops $2.7B on Toronto Rentals as GTA Listings Dry Up and Bottom-Fishing Heats Up | Lavamgam

Real Estate

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Ottawa Drops $2.7B on Toronto Rentals as GTA Listings Dry Up and Bottom-Fishing Heats Up

Prime Minister Mark Carney dropped a $2.7 billion bombshell on Toronto's rental market Wednesday, promising to build more than 5,600 new rental homes over the next three years, with 1,800 designated as affordable or rent-controlled. Construction on 4,500 units is slated to begin by year-end. For renters drowning in bidding wars, this is a lifeline—a clear signal that Ottawa is finally putting serious money where its mouth is on supply.