“Ontario’s Housing Crisis is getting worse”, Ontario Non-Profit Housing Association

2013-02-07_13-57-21_984x

Ontario’s housing crisis is getting worse according to the Ontario Non-Profit Housing Association’s recent report entitled, “Where’s Home”. The report concludes that the Provincial and Federal governments have effectively removed themselves from the business of providing affordable housing, leaving inadequately funded municipal governments and the market, which is fundamentally antithetical to providing non-for-profit housing, to provide affordable housing. The lack of affordable housing will deeply impact growth in the province, since the fastest growing sectors of the market remain low paying service industry jobs. Furthermore, if affordable rentals and homes are not available, Ontarians will be forced to take loans and enter into mortgages that they cannot afford, which could result in a US style mortgage crisis, an idea subtly echoed by Nobel prize winning economist Paul Krugman on his blog yesterday.

Read the full report and press release here:
http://www.onpha.on.ca/whereshome

Where's Home?

Advertisements
%d bloggers like this: