Housing Unaffordability
By samanthaorwell on June 4, 2008 - 11:58am
Full post with links here:
http://thevancouvermanifesto.blogspot.com/2008/06/housing-unaffordabilit...
Care of Michael Shapcott- A housing activist located in Toronto:
A staggering one-in-four Canadian households are in the housing affordability danger zone – paying 30% or more of their income on housing. Even more troubling, the poorest Canadian households – renters – face the worst affordability problems.
New data released today by Statistics Canada confirms that the cost of housing – rental and ownership – has been rising faster than the rate of inflation, and has been rising faster than household incomes. Full report HERE.
That translates into a nation-wide affordable housing crisis for renters and owners, which the StatsCan numbers confirm has grown worse in the five years leading up to the 2006 Census. Behind the figures is the terrible reality that millions of Canadians don’t have enough money to pay their rent, or mortgage payments, and also cover other necessities such as growing energy costs, medicine, food, transportation, clothing and other basics.
Renters feel sharpest pain
