Quote:
Originally Posted by Ando
I think Pollard is doing great work and this is a great project. But it makes me wonder why our governments aren’t providing these types of facilities without needing a private sector individual to step in.
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Long story, but the Feds used to build tons of housing. I believe tens of thousands of units per year at the peak, but I'd have to check. They cut back under Mulroney and then stopped completely in the 'lean mean 90s.'
More recently, their contribution was to sign operating agreements for mortgages with housing providers like Westminster Housing. However, many of those agreements have now expired and several of these providers face selling properties or raising rents to stem their loss of revenue.
Here in Canada the philosophy has generally been to use new home construction to prime the economy, instead of investing in affordable housing.