2017 National Housing Strategy (NHS)
This year’s Federal Budget was announced on Wednesday. For most people, this could either mean a good thing or another headache. This year, it looks like there will be a lot of money set aside for social housing. $11.2 billion, to be exact, and it will be spent over the next 11 years as part of a National Housing Strategy. So what does this boost in the National Housing Strategy mean for Burnaby and you?
Breakdown of the Fund:
- $5 billion to support the creation of new affordable housing and rental units.
- $3.2 billion for provincial efforts to support the affordable housing
- $2.1 billion to help homelessness
- $241 million for Canadian Mortgage and Housing Corporation to improve data collection
All of these could provide a lot of help, but an interesting effort to improve is the data collection improvements. Improvements like these will provide better data for more effective budgeting and will help identify those in need.
In addition to the money, the federal government is making more land available to satisfy nearly 50,000 social housing units.
Meeting the Ever-Growing demands of Social Housing
Based on Coun. Colleen Jordan, Burnaby will need an additional 7400 units of low to mid-market range housing by 2021. The National Housing Strategy could help Burnaby meet its ever-growing demand. A portion of federal land could be allocated for social housing projects. The housing initiative is a good start in the right direction in providing some relief, but there are also limitations for how much land can be allocated.
In addition to the ever-growing demand, there has also been public outcry and demonstrations. People are angry over the lack of social housing and the rise of homelessness in metro Vancouver. Burnaby held a strong position against adopting the federal and provincial obligation to provide the land for social housing. The National Housing Budget should, at the very least, help quell some tensions and provide the housing that many are in need of.
How People Feel about the NHS
According to a national survey done, 56.3% of people totally agreed with the National Housing Strategy’s vision for all Canadians having access to housing that meets their needs and what they can afford. Although this is a majority, there are still feelings of uncertainty. The survey also reveals that one of the most important housing themes important to people is low-income housing.
What to Expect
What this initiative means for people is that:
- There will be more social housing
- Homeowners will be looking at possible government subsidies and initiatives
- There will be an increase in sustainability, affordability, inclusivity, and flexibility
- It will help provide indigenous groups housing aid
The idea is to help revitalize the housing market and make it more affordable and feasible for people to live in certain parts of Canada. The next step is to see how well the Liberal government will fare trying to stick within the budget and accomplish what they have set out to do.