OREA's January 2011 issue of Queen's Park Plus

OREA's January 2011 issue of Queen's Park Plus is now online! Thank you to the Ontario Real Estate Association (OREA) for always helping us members keep up to date with the latest information to assist our clients.


OREA: Ontario long-term housing strategy does not address homeownership


After months of consultations, the Government of Ontario released its Long-Term Affordable Housing Strategy in December 2010. Ontario’s Long Term Affordable Housing Strategy is designed to improve access to affordable housing. Unfortunately, the strategy does not include a homeownership component, something that OREA strongly recommended during consultations.

Instead, the strategy reforms the province’s housing system by:

• Consolidating Ontario’s housing and home-lessness programs to give municipalities the flexibility to use funding to address local needs.

• Simplifying the rent-geared-to-income calculation process so that most tenants would only declare their income once a year.

• Expanding affordable housing options by requiring municipalities to set policies that would

allow second units in new and existing developments.

• Clarifying the roles and responsibilities of municipalities and the province to create stronger

partnerships and greater accountability.

While the strategy improves the province’s approach to social housing, it does not include any

component to help Ontarians achieve their homeownership dreams.

OREA wrote the Minister of Municipal Affairs and Housing noting the association’s disappointment with the lack of support for homeownership in the new housing strategy. Specifically, OREA’s letter noted that homeownership builds strong stable communities and helps drive the provincial economy through consumer spending and construction.
 
You can see a sample letter online.
 
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