From the Desk of Hazzem Koudsi, CEO of Habitat for Humanity Prince Edward-Hastings.
Solving the affordable homeownership crisis is vital to socioeconomic well-being because stable, affordable housing is the foundation for individual and community prosperity. When families can own homes without being burdened by excessive debt or cost, they gain financial security, build generational wealth, and contribute more actively to local economies.
Unlike renting, owning a home allows families to accumulate assets over time which can be leveraged to support education, start businesses, or withstand financial emergencies. Furthermore, affordable homeownership strengthens community stability. Homeowners are more likely to invest in their neighbourhoods, support local business, and participate in civic life. This leads to safer, more engaged communities with stronger schools, improved public services, and higher property values.
Along with all this, the economic impact is also significant. The construction, sale and maintenance of affordable homes creates jobs and stimulates local economies. So, how do we build more houses to achieve the aforementioned benefits of affordable homeownership? There is no magic wave of the wand, or genie to grant wishes here. It’s an amalgamation of collective effort that will rebuild our community.
I recently attended our national conference during which Habitat Canada’s CEO, Pedro Barata, discussed the need for a new strategic plan that will lay the course for 45 affiliates across Canada to build new affordable homeownership opportunities. As well, Halifax’s Mayor, Andy Fillmore, spoke about how municipal policy can shape positive housing outcomes. Between both speeches, I was able to narrow down the needs into three aspects that will shape part of our strategic plan and could be used as a playbook to support solving the crisis. Below is what each element could look like, leveraged in versatile contexts to provide action driven results.
Collaboration – A broad range of stakeholders across different sectors need to work together in a meaningful and impactful manner to solve the crisis. Primarily at the centre of this is governments at all levels with developers and builders, leveraging tax reductions combined with incentives and policy (developmental charges) changes. Financial institutions and private lenders to provide more accessible financing options to potential homeowners. Engage resident and community associations to understand other barriers to entering housing markets. Finally, engaged policy makers that have a pulse on the communities needs and are able to provide supportive and timely policies to support.
Sustainability & Growth – Housing that reduces carbon emission harm to the environment by utilizing energy efficient designs is important when increasing housing supply. Making housing affordable today shouldn’t be a fad or viewed as a one-time effort. We need to focus on keeping housing affordable long term to support stable socio-economic outcomes that can be enjoyed for years to come. Smart growth involves good urban planning so that parks, walkways, paths and cycling lanes are incorporated to preserve safe and healthy communities and eliminate nimbyism.
Impact – It’s not just houses that are built that will make a difference. Yes, that’s the main driver, but let’s not limit ourselves to that measure. Keeping families in their current homes is also impactful. By completing critical home repairs, we can keep a family in their existing home and prevent them from falling backwards through the housing continuum. Creating happiness through stable housing is reflected through children who are enrolled into programs that support their development and enrichment, leading towards a better and healthier life. Impact should not be measured by policies and checking off a to do list that doesn’t materially change sustainability & growth nor involve collaboration. Policy change that creates impact includes faster permit processing and approvals that provide timely construction to avoid potential losses.
This housing crisis is at a pivotal moment in our counties and beyond. It will require efforts from every corner and every villager to make a difference in rebuilding our community.