Building More Non-Market Housing in Metro Vancouver is Critical to Addressing the Housing Crisis
The community housing sector has a vital role in securing and leveraging land to build and deliver non-market housing that is permanently affordable in our communities. Preserving and growing community-owned real estate assets can disassociate those properties from the open real estate market and secure their long-term affordability and accessibility for communities, all the while enhancing the sustainability, capacity, and asset base of those community-based property owners.
This report presents an analysis of the potential impact of increasing the role of non-market in the future in Metro Vancouver on rental affordability. The analysis explores three different 20-year scenarios:
- Business as Usual: Sticking with historical trends in housing ownership and construction.
- Boosting Non-Market Housing: Increasing non-market construction to 40% of all new housing and having non-profits acquire over 1,700 existing affordable rentals.
- High Non-Market Housing: Raising non-market housing to 70% of new rental supply and helping non-profits acquire and keep 10,000 currently affordable homes.
Housing is a challenge for nearly everyone in Metro Vancouver, but especially for those low-income households. To prevent a worsening situation, we must tackle housing challenges at a scale that can fully restore the availability of affordable and adequate housing options, especially for those with low incomes who are marginally housed.
You can read the report here: