Housing Minister Sean Fraser says post-secondary institutions will be able to apply for low-interest loans to build student housing starting this fall.
This seems like it will help no one except the universities. I guess they need another way to extort people since they can’t bring in an unlimited number of international students anymore. Let’s see how ‘affordable’ the new student housing ends up being. I’m guessing $2000/month for a bed in a shared room?
Universities and colleges are also a significant source of temporary housing demand. This could help reduce market pressures for long term rentals while still providing rental housing to students.
Everything that the federal government announces ‘could help’ the issues that they are supposed to help, but the complete lack of oversight and accountability means it rarely ever does anything. How much of this money is going to be eaten up in administrative costs before houses can even be built? What does the government mean to when it says “affordable housing” and what happens if the housing that is created with this money doesn’t fall into that category?
The federal government is tweaking an existing program to make universities, colleges, non-profits and private developers eligible for low-cost financing to build residences on and off campus.
Public universities in Canada are nonprofit institutions and they don’t extort anyone for profit. Typically when you see them making money off housing or foreign students, it’s to cover budget shortfalls from stagnant or reduced government funding. That’s required to keep the legislated domestic fees low. The solution to these externalities begins with increasing government funding.
This seems like it will help no one except the universities. I guess they need another way to extort people since they can’t bring in an unlimited number of international students anymore. Let’s see how ‘affordable’ the new student housing ends up being. I’m guessing $2000/month for a bed in a shared room?
Universities and colleges are also a significant source of temporary housing demand. This could help reduce market pressures for long term rentals while still providing rental housing to students.
Everything that the federal government announces ‘could help’ the issues that they are supposed to help, but the complete lack of oversight and accountability means it rarely ever does anything. How much of this money is going to be eaten up in administrative costs before houses can even be built? What does the government mean to when it says “affordable housing” and what happens if the housing that is created with this money doesn’t fall into that category?
Public universities in Canada are nonprofit institutions and they don’t extort anyone for profit. Typically when you see them making money off housing or foreign students, it’s to cover budget shortfalls from stagnant or reduced government funding. That’s required to keep the legislated domestic fees low. The solution to these externalities begins with increasing government funding.