A Portable Housing Benefit Karen Myers October 5, 2017 Affordable - - PowerPoint PPT Presentation

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Oct 28, 2023 294 likes •398 views

A Portable Housing Benefit Karen Myers October 5, 2017 Affordable housing crisis . . . Rising income inequality, a challenging labour market and scarcity of rental housing stock people can afford, has created a crisis that makes too many

SLIDE 1

October 5, 2017

A Portable Housing Benefit

Karen Myers

SLIDE 2

Affordable housing crisis . . .

“Rising income inequality, a challenging labour market and scarcity of rental housing stock people can afford, has created a crisis that makes too many families vulnerable.” “Rent is the single biggest expense for Canadian households living with low incomes.” “This crisis is far too big to be fixed by construction alone.”

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. . . an innovative solution

Direct assistance to renters is a cost-effective way to

alleviate homelessness and core housing need

Five provinces already have a portable housing benefit

(BC, Alberta, Saskatchewan, Manitoba, Quebec)

Could be a single, harmonized, co-funded federal-

provincial-territorial program launched as part of the National Housing Strategy

SLIDE 4

. . . an immediate solution

By providing eligible renter households with direct financial assistance, we can immediately improve the well-being of a large number of households

SLIDE 5

Who would receive it and how?

Available to all renter households in core

housing need

Tied to the individual or family, not the building
r unit
Tax system used to determine eligibility and

payment

Municipally delivered on-ramp to ensure

responsiveness to urgent need

SLIDE 6

Payment design

Aligned with actual housing need –

Households receive amount aligned with gap between income and actual rent

Targeted – Subsidy is reduced as income rises

and maximum eligible rent is capped at median market rent

Partial gap coverage – Households bear a

portion of cost of increased rent, reducing upward pressure on rents (partial gap coverage)

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How would it work?

SLIDE 8

What could a housing benefit achieve?

1. All persons of low or modest income

paying unaffordable rent brought closer to housing affordability

2. No low or modest income family will

have to pay more than 50% of their income on rent

SLIDE 9

A bold idea

Portable housing benefit would:

Reduce core housing need
Reduce homelessness
Foster social inclusion
Promote choice and autonomy
Help modernize our income security system
Facilitate transition of social housing sector
Harmonize housing supports

SLIDE 10

Final thoughts

A national, portable housing benefit would have a real, meaningful impact on thousands

f Canadian households by giving them