The Government Of Canada Canada released their first ever Poverty Reduction Strategy this month. The strategy aims to reduce poverty by 50% by 2030, reduce chronic homelessness by 50%, improve…
Category Archives: Government Housing News
$1 Billion Available Funding for Affordable Housing
June 26th, 2018
Richard Zussman, Global News
British Columbia has signed a deal with the federal government that will see almost $1 billion go to affordable housing across the province over the next decade.
The provincial and federal governments say more than $990 million will be spent on building, repairing and expanding social housing and supporting housing affordability.
The costs will be split between the two level of government, 50/50.
New Definition of Affordable Housing Needed
July 19th, 2018
The Star Editorial Board
What people can afford to pay for a home has nothing to do with the price of housing and everything to do with their income. When it comes to buying a house that’s something mortgage lenders know well. But when it comes to the rental housing market that’s a concept that’s harder to find.
And that’s how Toronto wound up with an affordable housing program that doesn’t actually produce much affordable rental housing. Instead, it results in housing that’s pegged to the city’s average market rents.
Certainly, that’s not bad housing and it fills a need. But it does not fill the needs of Toronto’s low-income tenants as the city is so keen to suggest it does.
BC Budget Subsidizes Child Care Costs
February 21st, 2018
The NDP’s first budget pledges $1 billion over the next three years to create an affordable child care system in B.C., although one without its major campaign promise of a $10-a-day rate.
Instead, it has promised a combination of two measures that will reduce child care costs for some families with kids in licensed facilities, and which will together help low-income earners the most.
According to the budget, approximately 27,000 families with annual incomes under $45,000 will eventually pay little or nothing for licensed child care.
“(The budget) makes an historical investment to take care of our children,” Finance Minister Carole James said Tuesday.