The federal government is significantly reducing the number of immigrants coming into Canada next year in an effort to ease pressure on housing, infrastructure and social services.

The City of Mississauga has proposed an "Action Plan for New Housing" prioritizing the construction of affordable purpose-built rental projects.

Calling it "the most comprehensive and ambitious housing plan ever seen in Canada," Prime Minister Justin Trudeau emphasized the new housing plan will lead to 3.87 million homes by 2031.

The majority of economists on Finder’s BoC Interest Rate Forecast panel say the federal government’s housing plan won't do enough to solve Canada’s housing crisis.