When we hear the term affordable housing we tend to think that they are subsidized housing and we assume that they are options that others need and do not consider them. It turns out that, to some extent, we are wrong.   According to Mississauga's Making Room for the Middle, a strategy recently developed by the city of Mississauga, there is an urgent need to create affordable housing for middle-income earners who are in danger of being assessed out of town.   Some of the findings of the draft are alarming, though not surprising at all.  

• A home is considered affordable when its owners invest 30% or less of their income in the monthly expenses.
• 1 in 3 households are spending more than 30% of their income and this average is expected to increase.
• The estimated net income of the middle class is between $ 50,000 and $ 100,000 a year.
• Among the middle class are nurses, teachers and social workers.
• Those who qualify to buy a property can usually pay between $ 270,000 and $ 400,000, which means their only options are apartments or small townhouses.
• House prices are negatively affected by imbalances in supply and demand (there is much more demand than supply).
• The average cost of an income is $ 1,200 per month.
• The inventory of units available for rent is 1.6%: extremely low.

  The city is focusing on middle-income employees who normally generate a lot to be assisted by the government but not enough to rent or buy a home in the city.   When people can not afford the prices of their communities, the social and economic fabric of the area is compromised. If the middle class is forced to leave, the city will only be suitable for people with very high and / or low incomes, something that leaders hope to prevent.   Now, it is important to note that the city alone can not do much to cool the real estate market. The low inventory of housing in the GTA has led to an impressive spike in prices that has left many potential buyers for the first time discouraged.   Recently, the Toronto Real Estate Board (TREB) announced that houses in Toronto cost about $ 1 million. Even the condominiums are being sold in the $ 400,000 range. These increases also affected the rental market. Today the rent of a 1 bedroom apartment does not fall below $ 1,500 per month.   While there is not much that the City can do to drive down market prices, it can protect the existing rental market and encourage developers to include affordable housing in their projects.     Proposals from the City of Mississauga:  

• Adjustment of tax and credit policies that encourage affordable housing.
• Pre-zoning and a Development Permit System to build affordable housing in appropriate locations (near transit systems, for example).
• Encourage the Peel region to develop a territorial inclusion incentive program for private and nonprofit developers.
• Continue engaging with stakeholders in housing development.
• Encourage the government of the Region to investigate the cost of deferring development charges on the portion of affordable units provided in newly constructed projects.

  The city is also working to legalize accessory units (like apartments in basements). At this juncture, basement suites remain a very viable option for people looking for affordable units, as they tend to cost $ 1,000 or less. At this time, most units remain unregistered and the city is responsible for imposing fines on owners who operate unregulated entities.   Although the road will be long, it is good that Mississauga is working to develop its own plan and not expect provincial or federal governments to give guidance. While housing has been identified as a priority for all levels of government, the city is optimistic that it can do things (such as legalizing secondary units and protecting existing rental stocks) in the meantime to keep wage earners Of middle income in the city.