With so many people coming to Canada for work and a better life, one of the problems that has created is affordable housing. The government is working hard to create places for people to live. Not only a location, but a safe place for them to live. When the demand for housing goes up, the prices tend to go up too. Part of the initiatives in place is to keep rentals reasonably priced. Subsidies can help for households where their income isn’t high enough to keep up with the cost of living.
Increase Housing Options Available
Construction of more housing units continues to be a movement in many areas of Canada. Building homes, apartment units, and townhouses give people a place to call home. It takes time to secure the land and permits. A labour shortage can cause delays in many areas of the building process. While the goal is to construct the units quickly, there is no room for mistakes. You can’t risk the safety of people by cutting corners on the construction process.
Repairs to Unlivable Housing Units
Another area where work is being conducted is repairs to unlivable or unsafe housing units. Landlords can receive grants and incentives to fix up property so someone can safely reside in it. This prevents older units from sitting empty when an investment of materials and time can make them livable again. The government is also concerned about people living in units that aren’t deemed safe. This isn’t a good idea, but some feel they have no choice due to the limited housing available.
Keep Rental Prices Down
It isn’t fair for someone to spend all they earn to keep a roof over their heads! The government has efforts in place to keep rental prices down. This includes subsidizing part of the rent for those that can’t afford it on their own. They work closely with property owners and strive to help those living in poverty to be in a decent structure.
Competitive Interest Rates on Home Loans
Buying a home is a great investment, it allows you to build equity each month as you pay that mortgage bill. The government of Canada works to offer competitive interest rates so people can afford to buy a home. The lower the interest, the lower the house payment. When you consider a typical home loan is for the span of 30 years, reducing interest rates is a significant factor in buying a home.
Earning a decent wage for the work done is important. It depends on the type of work and the skills involved. The healthcare sectors tend to make the most money followed by other types of professionals. Many people that work in Canada don’t have a degree, but they are a big part of the economy. This includes those that work in the tourism and hospitality industries. The government wants to make sure they are being paid a decent wage for their work, enough money that they aren’t living in poverty.