Five Myths About Affordable Housing

The downturn in the housing market has led to a lot of misconceptions about housing. This piece from <em>The Tyee</em> identifies five myths about affordable housing.
February 15, 2009, 9am PST | Nate Berg
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"Think the falling real estate market is going to solve B.C.'s housing affordability problems? Think again: Home prices would have to plunge 55 per cent before ordinary families will be able to buy homes in this market. And if real estate sinks that low, so will family incomes."

Myth #1: The market correction will restore affordability

Myth #2: As home prices fall, so will rents

Myth #3: Empty condos will loosen up the rental market

Myth #4: Build more homes and prices will drop

Myth #5: The government needs to subsidize more housing

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Published on Thursday, February 12, 2009 in The Tyee
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