Sugar wharf condos phase 3 . Canadian real estate has been highly unstable for eight consecutive seasons. (Canada Mortgage and Housing Corporation), a Canadian mortgage and housing company, said the country’s real estate market was facing a high degree of instability for the eighth consecutive quarter.
The Crown corporation, the federal government’s state-run company, attributed the crisis to surging house prices and exorbitant prices in Toronto, Vancouver, Victoria and Hamilton.
The company rated Emminton, Calgary, Saskatoon and Lizana as moderate crises and Winnipeg, Mandike and Halifax as low risk.
CMHC said home sales in Toronto remained low in 2018, well below the threshold of overheating.
As for how the three-tier government can address squarely the housing problem of low-income families through policies, she thinks that at present, both the federal government and the Ontario government have set the (Affordable Housing) definition of affordable housing at less than 30% of household income, but the municipal government does not have such a definition, and she hopes that the municipal government can follow the standards of the federal and provincial governments.
Hua Jias pointed to the lack of affordable housing in the Greater Toronto area, and the number of needy families waiting for such housing has reached a catastrophic critical crisis. Even if the city government and the developer agree to allocate some of the units to be built as affordable housing units, as the city government does not have the relevant definition, the rental prices of these houses are uneven and cannot meet the responsibility of affordable housing. it can’t help low-income families who really need it.
Wu Yaoyao, director of the Hua Yue Cambodia legal Aid Center, which is concerned about poverty in Ontario, said that if the rent exceeds 30% of the median household income, it means that the rent is unaffordable and that the rental cost of the house is too high. She pointed out that there are more and more families waiting for affordable public housing in Toronto, but the construction of new affordable housing and related units has completely failed to catch up with the demand, resulting in low-income families having no choice but to rent housing outside the city. She said that in 2016, the average monthly rent for an one-bedroom unit in Toronto was 1132 yuan, which meant that the hourly wage needed at least nearly 22 yuan to afford. But in recent years, the rental cost has become increasingly high, and low-income families can hardly afford to rent an one-bedroom unit.
