A “staggering and worsening” shortage of affordable housing threatens the health and well-being of low- and moderate-income Ontarians and undermines the province’s economic competitiveness, says a 20-year retrospective on the issue.
“The lack of a sufficient supply of affordable housing shuts the door on opportunity for too many Ontarians,” says the report by the Ontario Non-Profit Housing Association and the Co-operative Housing Federation of Canada, Ontario Region. “This undermines our collective prosperity.”
Recent federal efforts aimed at cooling the housing market will make it even worse. As up to 20,000 households unable to buy remain in an already tight rental market, rents will continue to rise, says the report, titled “Where’s Home?”
Read the full article here, courtesy of the Toronto Star.