class 5.2 Flashcards
HOUSING TENURE
Refers to the legal status that someone has to occupy their home.
renting and ownership
how were homes acquired in early 20th century
Most homes were self-built or individually commissioned.
There were lots of different actors involved at different development stages.
Buyers relied mostly on savings to finance a home purchase.
how are homes acquired today
Custom-built homes are a small share of new home construction.
Large companies handle all stages of development.
Buyers rely on mortgages to finance a home purchase
federal influence on how the housing system functions
tax policy
Mortgage rules
Risk mortgage insurance
Mortgage-backed securities
municipal influence on how the housing system functions
Land use zoning
Subdivision bylaws
Regional land use plans
Emergency shelters
Affordable housing policies
HOW DOES CANADA RELIES HEAVILY ON THE MARKET TO ALLOCATE HOUSING
95% of our housing system operates through the private market.
Until the 1990s the federal government was also involved in building and maintaining affordable non-market housing.
These programs were ended in the 1990s, and responsibilities for affordable housing were downloaded to the provinces and territories.
We’ve seen a reduction in the amount of social housing since then.
New National Housing Strategy aims to re-start social housing construction.
when is housing considered affordable
when households spend less than 30% of their pre-tax income on housing
when are households in core housing need
> 30% and < 50% of pre-tax income spent n housing needs
when are households in severe housing needs?
> 50% of pre-tax income spent n housing needs
CMHC assesses core housing need in the private sector through which 3 dimensions
- Adequacy:
–> housing that doesn’t need major repairs like structural repairs or electrical repairs.
- Suitability:
–> housing with enough bedrooms for the resident household, so the housing isn’t overcrowded.
- Affordability:
shelter cost is equal to or less than 30% of the household’s pre-tax income, and whether a household could move or find alternative housing in their community.
HOUSING ON INDIGENOUS RESERVES
Shortage of high-quality housing.
Poor housing conditions have significant negative health impacts.
Long-term drinking water advisories.
Insufficiency of safe & secure housing also a driver of gender-based violence.
HOW IS THE FEDERAL GOVERNMENT RESPONDING TO CANADA’S HOUSING CRISES?
Sets housing targets:
- Cutting chronic homelessness by 50%
- Removing 530,000 families from housing need
- Renovating and modernizing 300,000 homes
- Building 125,000 new affordable homes
Allocates funding for new affordable housing construction.
Creates the Canada Housing Benefit.
