Jump to content

The Housing Shortage


-dlc-

Recommended Posts

  • 3 weeks later...
1 hour ago, 6of1_halfdozenofother said:

Interesting piece on The Walrus on the housing situation.  It raises some good points, but also comes at it from a completely different perspective than the common narrative out there.

 

URL: https://thewalrus.ca/there-is-no-housing-crisis/

 

 

Been saying for while now, we need to start building social/Co-op housing again. It's the main thing that would start to fix/even out the problem for the 1/3, while not also crashing the real estate value of the 2/3 that have wealth tied to the real estate market. It needs balancing.

 

The province also removing a lot of the NIMBY ability of cities likely also helps. Now we need provinces/towns to start insisting on "X" percentage of land development approval to include rent controlled/social/co-op housing.

  • Vintage 2
Link to comment
Share on other sites

6 minutes ago, aGENT said:

 

Been saying for while now, we need to start building social/Co-op housing again. It's the main thing that would start to fix/even out the problem for the 1/3, while not also crashing the real estate value of the 2/3 that have wealth tied to the real estate market. It needs balancing.

 

The province also removing a lot of the NIMBY ability of cities likely also helps. Now we need provinces/towns to start insisting on "X" percentage of land development approval to include rent controlled/social/co-op housing.

 

But but but... think of those poor poor real estate developers who would have that fatty pork clawed out of their hands, and all the profit they'd lose that they could dredge from units they could be building and charging huge sums on!  Won't anyone think of the poor real estate developers?  :classic_rolleyes:

  • Haha 1
Link to comment
Share on other sites

35 minutes ago, 6of1_halfdozenofother said:

 

But but but... think of those poor poor real estate developers who would have that fatty pork clawed out of their hands, and all the profit they'd lose that they could dredge from units they could be building and charging huge sums on!  Won't anyone think of the poor real estate developers?  :classic_rolleyes:

 

I know you jest, but this is LITERALLY what (good) governing is for. To make sure that developers can still make some (and still good) money, but not at the cost of also screwing 1/3 of our population out of being able to afford things like housing and food. Government is there to ensure business interests don't outweigh people interests (and vice versa).

 

Unfortunately I feel like this is just going to get worse as people vote against their own best interests by voting out left of centre politicians for "change", only to discover what some of us already know. That the rich/corporations (including said developers) are even more in bed with the right of centre politicians that are polling higher currently.

 

And even if people do vote "left", if the governments don't have a plan to actually keep development happening under "less developer friendly" rules, we'll just see what happened with things like the NEP. The money, pulls out and they sit on the fence. Jobs, incomes and new builds (or oil investment in the case of the NEP) dry up and they wait out the "pleebs" until they get hungry, homeless and hopeless and acquiesce to more "developer friendly" rules. 

 

I've read this book before. I don't like the ending. When are we going to learn?

Edited by aGENT
  • Vintage 1
Link to comment
Share on other sites

  • 4 weeks later...

I like that the feds are recognizing the importance of giving a helping hand to institutions of higher education to build more student residence spots, but a loan is just a start.  Would be even better if they could help with providing grant funding to make them affordable for students to rent them from the universities as well.

 

Quote

Liberals extend federal low-cost construction loan program to student residences

Apartment Construction Loan Program provides fixed 10-year loans amortized over up to 50 years

peter-zimonjic.jpg
Peter Zimonjic · CBC News · Posted: Jan 29, 2024 11:07 AM PST | Last Updated: 10 hours ago
A multi story residential building shown against a blue sky
The Walter H. Gage Residence at UBC. Construction of student residences will now be eligible for low-cost loans under the Liberal government's national housing strategy. (UBC Housing)

 

The federal government says its low-cost loans program for affordable housing construction is being expanded to include student residences.

 

Housing Minister Sean Fraser made the announcement Monday in Ottawa. He said broadening the Apartment Construction Loan Program to include student residences will help students find housing across the country. 

 

"This is an important policy change," Fraser said. "It's not just going to create more affordable places for students to live near where they're going to school. It's also going to relieve pressure on the housing market by freeing up housing supply that already exists in communities that are seeing students need to compete in the market more broadly."

 

Fraser said colleges and universities can apply for the loan funding to build residences themselves, and non-profit builders and developers are also eligible to apply.

 

In last year's fall economic statement, the federal government announced that it was providing $15 billion in new low-cost loans starting in 2025-26 to encourage construction of new rental apartments across Canada.

 

Under the program, developers can get a loan for a ten-year term at a fixed interest rate, with an amortization period of up to 50 years.

 

 

According to the terms of the program, developers and builders only have to pay the interest on the loan during the construction period and only have to start paying both the principal and interest "after twelve months of stabilized effective gross income" on the rental unit.

 

At the end of the ten-year term, the builder or post-secondary institution must then move their loan to a Canada Mortgage and Housing Corporation-approved lender. 

 

Housing experts say the massive recent spike in non-permanent residents has had a substantial impact on the price of rental housing because temporary residents overwhelmingly live in rented accommodation.

 

Fraser admitted as much earlier this month in Halifax when he told reporters "the temporary foreign workers program, and in particular the international student program," were making the housing crisis worse.

 

Statistics Canada said that by the end of 2023, there were 2,511,437 non-permanent residents in the country — a class that includes international students and temporary foreign workers — compared to 1,305,206 in the fall of 2021.

 

In 2011, the number of international students in the country was just shy of 240,000. Late last year, Immigration Minister Marc Miller said Canada was on track to host as many as 900,000 international students in 2023.

 

To address the problem, Miller announced last week that the federal government is capping the number of student permits over the next two years.

 

Ottawa said it will approve approximately 360,000 undergraduate study permits for 2024 — a 35 per cent reduction from 2023.

 

Under the plan, each province and territory will be allotted a portion of the total, which will be distributed according to population.

 

https://www.cbc.ca/news/politics/housing-student-residences-loan-program-1.7098108

  • Cheers 1
Link to comment
Share on other sites

Bubbles says wtf? Where have the trailer/small homes parks gone? Was the only thing most of us working folks could afford when we started out. 
Every town had at least one or two. They zoned them out because they brought down the value of surrounding neighborhoods. Well now they have tent cities instead. Great job. 

Link to comment
Share on other sites

2 hours ago, Spur1 said:

Bubbles says wtf? Where have the trailer/small homes parks gone? Was the only thing most of us working folks could afford when we started out. 
Every town had at least one or two. They zoned them out because they brought down the value of surrounding neighborhoods. Well now they have tent cities instead. Great job. 

 

Having lived in a trailer park in the Maritimes for a couple years (it was a pretty solid time)... I am not entirely sure if Trailer Park Boys left a good lasting impression on Canadians of what trailer park life could be like.

 

If you had never seen a trailer park in your life and watched TPB, would you want to move somewhere like that?

Link to comment
Share on other sites

11 hours ago, Spur1 said:

Bubbles says wtf? Where have the trailer/small homes parks gone? Was the only thing most of us working folks could afford when we started out. 
Every town had at least one or two. They zoned them out because they brought down the value of surrounding neighborhoods. Well now they have tent cities instead. Great job. 

Kelowna has removed or rezoned or developed 3 or 4 trailer parks for seniors in the last few years with the owners of the land making obscene money doing it while throwing a large number out on to the streets as many couldn't afford to move their trailers or modular homes.

 

It's the same nation wide, greed is winning.

  • Sad 1
  • Upvote 1
Link to comment
Share on other sites

Another interesting piece at (@Bob Long - look away! :hurhur:) The Tyee:

https://thetyee.ca/News/2024/02/05/Upzoning-Should-Not-Be-Given-Free/

 

Excerpt:

Quote

Zoned out?

 

In 2032, the Summer Olympics will be coming to Brisbane, Australia, where Murray lives.

 

“[The government] has acquired seven hectares of riverfront land for an Olympic venue in 10 years’ time,” said Murray. “All of a sudden, there’s money, there’s land, there’s plenty of space to do whatever you want. But when it’s community housing, parks and facilities? It’s like, ‘Sorry guys.’”

 

Why are some governments so averse to taking a more active role when it comes to housing and upzoning?

 

“I think we’re used to it because there are political and economic incentives over the long term that seep into politics,” he said. “People don’t want cheap houses. Councillors don’t want cheap houses. Investors, landlords, property owners, provincial state governments, they don’t want cheap houses. The average politician in Australia has 2.5 houses worth a million dollars each.”

 

 

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
×
  • Create New...