The federal Fall Economic Statement is focussing on increasing the housing supply.
Finance Minister Chrystia Freeland says there are number of new initiatives announced that will improve the situation.
"I am today announcing new measures through our economic plan to build thousands, upon thousands, upon thousands of new homes across the country," Freeland told Parliament during the speech.
Freeland adds that in addition to creating more housing opportunities, they are ensuring more housing units are going to people who need them.
"We'll be cracking down on short term rentals listed on sites like Airbnb and VRBO, which are keeping far too many homes off the market in communities and cities."
Following her speech, Conservative leader Pierre Poilievre his party would issue a vote of no confidence.
"With this $20 billion of costly new spending this update can be summed up very simply: prices up...rent up...debt up...taxes up...times up!."
Overall, the federal government deficit is forecast at $40 billion this year, about the same as the government predicted in the spring.