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Tuesday, June 30, 2009

Affordable Housing?

Was reading this story from the Bulletin City eyes row housing option thinking great this could be another means of creating affordable housing in the city. Reading on I found that in Langford some of these homes are as small as 400sq. ft. good enough for a single person or possibly a couple, but a family likely not. In Langford the cost of these homes, meer inches from each other, would begin at $199,000. Councillor Holdom says he worries about maintenance costs of homes so close together, me I would worry about safety in the event of a fire. One would hope there would be some kind of regulation to amend this concern.

Getting back to the affordability; my question is affordable for whom? With no money down a person would be looking, even with interest rates being as low as they are, at roughly $1200.00 a month. When you add phone, hydro, insurance, etc you would be looking at a minimum of $1600.00 per month. If a person were to make $12.00 an hour every cent earned would go to pay for the mortgage and bills. If one looks at over %30 of income towards housing as an indicator of poverty this person would be destitute. To afford payments like these one would have to be making over $20.00 an hour or at least have a combined income of such. So again one would have to ask, in this economic climate and even in better times, affordable to whom.

1 comment:

Anonymous said...

Councillor Holdom likes to portray concern over any project but when the time comes he will vote for the marriage of any piece of plywood to a 2 x 4 to be placed in a hole in the ground.
These are not affordable nor desireable homes.
These homes are designed to lure marginal buyers into a market they can ill afford particularly when interest rates go up.
As for maintenance concerns such housing,if built, should be of concrete or block construction as to reduce the risk of fire.
What is needed is affordable rental housing which should be provided by the City.
As a society we have a right to shelter but not necessarily house ownership.