Toronto Affordable Housing Summit 2016: Jean-Yves Duclos, Minister of Families, Children and Social Development

The video discusses the doubling of federal spending under the Investment in Affordable Housing, providing significant funding for provinces and territories to extend subsidies for social housing projects. These investments serve as a transitional measure leading to a new National Housing Strategy. The government introduces prepayment flexibility, allowing co-ops and non-profit housing providers to prepay long-term mortgages without penalty, enhancing their capacity to deliver affordable housing. This flexibility helps providers lower mortgage expenses, finance repairs, and transition to self-sustaining models.

What is the purpose of the increased federal spending under the Investment in Affordable Housing?

• To reduce taxes for homeowners

• To provide funding for provinces and territories to extend subsidies for social housing projects

• To build new luxury apartments

• To decrease the national debt

What is the duration of the transitional measures mentioned in the first section?

• Three years

• Two years

• Four years

• One year

How much funding is the government providing for prepayment flexibility?

• $250 million

• $200 million

• $150 million

• $100 million

What is one of the benefits of allowing mortgages to be prepaid without penalty?

• It strengthens the capacity of housing providers to deliver affordable housing

• It increases the interest rates

• It limits the ability to finance repairs

• It reduces the number of housing providers

What opportunity does the new flexibility offer to eligible housing providers?

• To increase mortgage expenses

• To finance repairs with private capital

• To increase rental prices

• To sell their properties