What you need to know about Trudeau's new 'plan to solve the housing crisis'

The federal government has unveiled what it is calling their 'plan to solve the housing crisis,' outlining both steps they intend to take, as well as issuing a callout to other levels of government and homebuilders to roll up their sleeves. Here's what you need to know.

The federal government has unveiled what it is calling their "plan to solve the housing crisis," outlining both steps they intend to take, as well as issuing a callout to other levels of government and homebuilders to roll up their sleeves.

The 28-page plan includes billions of dollars in spending commitments and is divided into three pillars: building more homes, making it easier to own or rent a home, and helping Canadians who can't afford a home. 

"Today we are releasing the most comprehensive and ambitious housing plan ever seen in Canada. It builds on the sizeable investments we've made over the years and it goes a lot further," Prime Minister Justin Trudeau said Friday, backed by his lead ministers on the file and dozens of hard-hat-donning students and apprentices at the College of Carpenters and Allied Trades in Vaughan, Ont.

"It's a plan to build housing, including for renters, on a scale not seen in generations. We're talking about almost 3.9 million homes by 2031."

Over the last few weeks the Liberals have been rolling out a series of new commitments aimed at younger Canadians who are having a hard time entering the housing market.

Those pledges are included in this new national housing plan, as are a series of new policy ideas.

Here's what you need to know.