🇨🇦 This country does need more housing however there's no mention here of geared to income residential units.😞
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This country does need more housing however there's no mention here of geared to income residential units.
https://www.ctvnews.ca/ottawa/article/1400-units-planned-at-site-of-former-ottawa-citizen-building/
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This country does need more housing however there's no mention here of geared to income residential units.
https://www.ctvnews.ca/ottawa/article/1400-units-planned-at-site-of-former-ottawa-citizen-building/
CMHC has a measure called Affordable Market Rents (AMR) - regionally based on what rents are with private landlords. They publish monthly. In Ontario, the previous October's AMR is used to define affordable rents as 80% of AMR for the current year. Rent Geared to Income (RGI) is based on 30% of a person's or households net income (some assets uncluded) established annually with tax filings and used for rent calculations the following year. Affordable housing is cheaper for governments than RGI as it provides less subsidy to providers. If the 80% of AMR is $1850 per month plus utilities, and 30% of your income is $1100, how can you pay rent, utilities, insurance, transportation, clothing and food?
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