Prime Minister Carney has pledged billions of dollars in financing for makers of prefabricated homes to help end the country’s housing shortage. Experts say the plan is visionary – and laden with risks. Mr. Carney has promised to provide $25-billion in loans and $1-billion in equity financing for companies that largely build homes in factories rather than on construction sites. The federal government will also place bulk orders of prefabricated housing to help jump-start a nascent industry. …It’s a big, bold bet that could make it faster, cheaper and more environmentally friendly to build a chunk of the 3.5 million homes that Canada needs to add by 2030. But factories need sustained demand, a large enough market and streamlined production. That’s what must weave out of the web of housing bureaucracy and hyperlocal rules that currently tangles up residential construction, the experts caution. [to access the full story a Globe and Mail subscription is required]
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