Did you know?
Canada has a housing crisis, and affordable ownership housing offers several solutions. Here are just a few...
1. Relieves Rental Shortage - Every affordable home ownership unit purchased by a middle-income renter frees up a unit of affordable rental housing.
2. Captures land appreciation - Affordable home ownership is the only form of affordable housing that can capture land value appreciation, using it to fund more affordable housing.
3. Creates its own fund - When affordable home ownership developments use shared appreciation mortgages (SAMs) and revolving funds, the home ownership model does not rely on on-going government financial support or free government land.
4. Lowest default rates - Affordable home ownership programs have a low default rate of less than 1%. In the private ownership market the default rate is higher, at 2% – 3 %.