Using new forms of equity, policy and land-use to increase housing affordability.
The feeling that something more needs to be done about housing affordability is growing. In the ‘hot’ real estate markets of Vancouver and Toronto, news items regularly lament the prospects of younger people or new Canadians ever owning a home.
A consensus is building that it is appropriate and urgent that all orders of government support scaling up affordable ownership housing for middle income Canadians.
Affordable home ownership has benefits for society as a whole. Literature shows that it supports competitive and prosperous cities, builds social capital and a stable middle class, helps people plan for their retirement, and frees up affordable rental housing in tight urban housing markets.
Our work explores how a variety of tenure options and alternative equity models can support affordable housing for middle income households and add to the range of housing types between single detached homes and hi-rise apartments – the missing middle.