The agency, with an initial budget of $13 billion, plans to start by building 4,000 factory-built homes on six parcels of federal land in Nova Scotia, Quebec, Ontario, Manitoba and Alberta. (The Logic)

Talking point: Home construction has picked up significantly in some parts of the country, but the Canada Mortgage and Housing Corporation said Toronto, Vancouver and Halifax have all seen slowdowns. Prime Minister Mark Carney tapped former Toronto city councillor Ana Bailão to head the new agency, which will focus on boosting the supply of affordable and transitional housing by offering builders loans, equity investments and other financing options. It will also incentivize the use of new building technologies to boost productivity. Carney says the government has 88 parcels of federal land, roughly equivalent to the size of downtown Ottawa, that could be used to lower costs and risk for builders.