More community housing could boost Canadian economy: report
BNN Bloomberg
Significant improvements to community housing projects could seriously boost the Canadian economy while addressing the country’s housing crisis at the same time, according to a new report.
The report from Deloitte Canada, commissioned by the Canadian Housing Renewal Association, said 371,600 new community housing units are needed by 2030 to achieve the Organisation for Economic Co-operation and Development (OECD) average stock of seven per cent. Those extra units would in turn boost the economy by as much as $179 billion in 2030, the report said.
The research showed an improved community housing supply would help boost productivity by attracting skilled labour to underserved areas of the country, improving the well-being of those who live in community housing and reducing rent to improve human capital.
“Our Indigenous housing research shows that the return on investment in social and affordable housing programs is more than seven times the benefit over the cost,” Margaret Pfoh, president of the Canadian Housing and Renewal Association and CEO of the Aboriginal Housing Management Association, said in a news release.
