EDMONTON, AB, Sept. 2, 2020 /CNW/ – Every Canadian deserves a safe and affordable place to call home. That is why the governments of Canada and Alberta will fund a Métis Capital Housing Corporation affordable housing project to provide homes and create jobs in the community.
An affiliate of the Métis Nation of Alberta, MCHC works to provide safe, affordable housing for Indigenous people in Alberta.
The affordable housing development will provide 23 new homes in Edmonton. The modern homes will help meet the demand for affordable housing in the community and are located close to schools, transit and medical centres. The housing project will create an estimated 60 jobs in the province.
The Honourable Ahmed Hussen, Minister of Families, Children and Social Development and the Minister responsible for Canada Mortgage and Housing Corporation (CMHC), along with provincial Seniors and Housing Minister Josephine Pon, and Indigenous Relations Minister Rick Wilson made the announcement today.
The Government of Canada, through CMHC, and the Alberta government, will jointly contribute $6.95 million through the Canada–Alberta bilateral agreement under the National Housing Strategy (NHS). The total project budget is nearly $8 million, which includes a Métis Capital Housing Corporation contribution of $840,000.
The Alberta government will fund the project through its newly redesigned Indigenous Housing Capital Program.
The Government of Canada will continue to address needs of Canadians through the Safe Restart Agreement for provinces and territories, and Alberta’s Recovery Plan is a long-term strategy to build, diversify, and create tens of thousands of jobs now.
By working together we are benefiting our communities.
Quotes:
“Through the National Housing Strategy, it is with great pleasure that our Government, is supporting projects like the Métis Capital Housing Corporation, so that collectively, we are better able to lift vulnerable populations of all races, age, and gender, find a home that meets their needs. These types of investments in our communities help create new jobs and stimulate the economy, while providing access to safe, affordable homes.” — The Honourable Ahmed Hussen, Minister of Families, Children and Social Development and the Minister responsible for Canada Mortgage and Housing Corporation (CMHC)
“Alberta’s government is proud to partner with the Métis Capital Housing Corporation to provide new homes and create jobs for Indigenous Albertans. The Indigenous Housing Capital Program is intended to support housing designed, delivered and owned by, and for, Indigenous communities.” – Josephine Pon, Provincial Minister of Seniors and Housing
“Everyone deserves a safe, affordable and accessible home and this important project will provide good homes for families and help address the high demand for housing in Edmonton. This project is a good example of what we can accomplish when different orders of governments and Indigenous governments and organizations work together for the benefit of communities.” – Rick Wilson, Provincial Minister of Indigenous Relations
“Having witnessed theaccomplishments of our housing branch, I know the role it has, and continues to play, in the lives of Indigenous Albertans. We understand the various needs of our community and design programs to meet those needs. Through Métis Capital Housing Corporation, the Métis Nation of Alberta strives to provide safe and affordable housing to our communities. This agreement will enhance our ability to continue doing just that, by building 23 new units for Indigenous families in Edmonton. These new buildings will go a long way to filling the gap in affordable housing availability for our citizens” – Audrey Poitras, President, Métis Capital Housing Corporation
Quick facts:
The Government of Canada is currently rolling out its National Housing Strategy (NHS), an ambitious 10-year, $55 billion plan that will create 125,000 new housing units and lift 530,000 families out of housing need, as well as repair and renew more than 300,000 housing units and reduce chronic homelessness by 50 percent.
The NHS is built on strong partnerships between federal, provincial and territorial governments, and on continuous engagement with others, including municipalities, Indigenous governments and organizations, and the social and private sectors to make a meaningful difference in the lives of Canadians.
Under the Investing in Canada plan, the Government of Canada is investing more than $180 billion over 12 years in public transit projects, green infrastructure, social infrastructure, trade and transportation routes, and Canada’s rural and northern communities.
Alberta’s Recovery Plan is a bold, ambitious long-term strategy to build, diversify, and create tens of thousands of jobs now. By building schools, roads and other core infrastructure we are benefiting our communities. By diversifying our economy and attracting investment with Canada’s most competitive tax environment, we are putting Alberta on a path for a generation of growth. Alberta came together to save lives by flattening the curve and now we must do the same to save livelihoods, grow and thrive.
Associated links:
As Canada’s authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers unbiased housing research and advice to all levels of Canadian government, consumers and the housing industry. CMHC’s aim is that by 2030, everyone in Canada has a home they can afford, and that meets their needs. For more information, please visit cmhc.ca or follow us on Twitter, Instagram, YouTube, LinkedIn and Facebook.
The Alberta Ministry of Seniors and Housing fosters the development of affordable housing and supports access to housing options for Albertans most in need. The ministry works with seniors, their families and caregivers, Albertans who require housing supports and communities and other government partners. A more detailed description of the ministry and its programs and initiatives can be found at alberta.ca/ministry-seniors-housing.aspx
For further information: Media contacts: Jessica Eritou, Office of the Minister of Families, Children and Social Development, [email protected]; Leonard Catling, Canada Mortgage and Housing Corporation, [email protected]; Natalie Tomczak, [email protected], 587-596-8187, Press Secretary, Seniors and Housing; Amy Dillon, Communications Director, Metis Nation of Alberta, [email protected]
TORONTO – Canada’s main stock index was down more than 200 points in late-morning trading, weighed down by losses in the technology, base metal and energy sectors, while U.S. stock markets also fell.
The S&P/TSX composite index was down 239.24 points at 22,749.04.
In New York, the Dow Jones industrial average was down 312.36 points at 40,443.39. The S&P 500 index was down 80.94 points at 5,422.47, while the Nasdaq composite was down 380.17 points at 16,747.49.
The Canadian dollar traded for 73.80 cents US compared with 74.00 cents US on Thursday.
The October crude oil contract was down US$1.07 at US$68.08 per barrel and the October natural gas contract was up less than a penny at US$2.26 per mmBTU.
The December gold contract was down US$2.10 at US$2,541.00 an ounce and the December copper contract was down four cents at US$4.10 a pound.
This report by The Canadian Press was first published Sept. 6, 2024.
TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in technology, financial and energy stocks, while U.S. stock markets also pushed higher.
The S&P/TSX composite index was up 171.41 points at 23,298.39.
In New York, the Dow Jones industrial average was up 278.37 points at 41,369.79. The S&P 500 index was up 38.17 points at 5,630.35, while the Nasdaq composite was up 177.15 points at 17,733.18.
The Canadian dollar traded for 74.19 cents US compared with 74.23 cents US on Wednesday.
The October crude oil contract was up US$1.75 at US$76.27 per barrel and the October natural gas contract was up less than a penny at US$2.10 per mmBTU.
The December gold contract was up US$18.70 at US$2,556.50 an ounce and the December copper contract was down less than a penny at US$4.22 a pound.
This report by The Canadian Press was first published Aug. 29, 2024.
The crypto market has recently experienced a significant downturn, mirroring broader risk asset sell-offs. Over the past week, Bitcoin’s price dropped by 24%, reaching $53,000, while Ethereum plummeted nearly a third to $2,340. Major altcoins also suffered, with Cardano down 27.7%, Solana 36.2%, Dogecoin 34.6%, XRP 23.1%, Shiba Inu 30.1%, and BNB 25.7%.
The severe downturn in the crypto market appears to be part of a broader flight to safety, triggered by disappointing economic data. A worse-than-expected unemployment report on Friday marked the beginning of a technical recession, as defined by the Sahm Rule. This rule identifies a recession when the three-month average unemployment rate rises by at least half a percentage point from its lowest point in the past year.
Friday’s figures met this threshold, signaling an abrupt economic downshift. Consequently, investors sought safer assets, leading to declines in major stock indices: the S&P 500 dropped 2%, the Nasdaq 2.5%, and the Dow 1.5%. This trend continued into Monday with further sell-offs overseas.
The crypto market’s rapid decline raises questions about its role as either a speculative asset or a hedge against inflation and recession. Despite hopes that crypto could act as a risk hedge, the recent crash suggests it remains a speculative investment.
Since the downturn, the crypto market has seen its largest three-day sell-off in nearly a year, losing over $500 billion in market value. According to CoinGlass data, this bloodbath wiped out more than $1 billion in leveraged positions within the last 24 hours, including $365 million in Bitcoin and $348 million in Ether.
Khushboo Khullar of Lightning Ventures, speaking to Bloomberg, argued that the crypto sell-off is part of a broader liquidity panic as traders rush to cover margin calls. Khullar views this as a temporary sell-off, presenting a potential buying opportunity.
Josh Gilbert, an eToro market analyst, supports Khullar’s perspective, suggesting that the expected Federal Reserve rate cuts could benefit crypto assets. “Crypto assets have sold off, but many investors will see an opportunity. We see Federal Reserve rate cuts, which are now likely to come sharper than expected, as hugely positive for crypto assets,” Gilbert told Coindesk.
Despite the recent volatility, crypto continues to make strides toward mainstream acceptance. Notably, Morgan Stanley will allow its advisors to offer Bitcoin ETFs starting Wednesday. This follows more than half a year after the introduction of the first Bitcoin ETF. The investment bank will enable over 15,000 of its financial advisors to sell BlackRock’s IBIT and Fidelity’s FBTC. This move is seen as a significant step toward the “mainstreamization” of crypto, given the lengthy regulatory and company processes in major investment banks.
The recent crypto market downturn highlights its volatility and the broader economic concerns affecting all risk assets. While some analysts see the current situation as a temporary sell-off and a buying opportunity, others caution against the speculative nature of crypto. As the market evolves, its role as a mainstream alternative asset continues to grow, marked by increasing institutional acceptance and new investment opportunities.
