Buy, don't rent,
= homes for poor

| Social housing costs less than rent subsidies

PROVIDING social housing for
those with low incomes costs taxpay-
ers less in the long run than helping
out with the rent.

An indepemlent study comparing the costs
of non-profit social housing to the costs of rent
supplements in: market housing found that,
after an average period of only tive vears, social
housing costs taxpavers less.

The study was released in March by Mike
Farnworth, minister responsible for B.C.

study was commissioned by B.C.
Housing and conducted by David Black, 4
consultant from Ekos Research in Ortawa. In
the study, the rents of 34 housing units — one
non-profit unit versus a market unit in pro
with similar characteristics (location, aye, si
and quality) — were examined over a 20-year
period frony 1978 to 1997.

is study takes a rare look at the actual
experience of “subsidized housing in different
forms,” said Farnworth. “It clearly demon-
strates that in the long term, the most cost-
effective method of providing housing a:
tance is through social housing administered
by non-profit groups.

“its clear char social housing plays an
important role in our wovernment’s etiorts to
support chiidren ard tamilies.” he added.

Reeent: studies supporting rent subsidies

gested that the shortest time for social

reots te fall below market tears is

berveen 22 and 36 years. However, Black's

research for BC Housing showed thar while

non-profit rents are higher initially, they

become cheaper — or “cross over” on average
within five vears.

The research also suggests social housing
provides substantial jong-term savings for gov-
emment. Using the 16,000 older non-protic
and public housing units in the provinces, sav-
ings over the rent supplement approach can be
estimated at approximately $320 million per
year by the 25 r of the program

remely imporraat because,
instead of relying on assumptions, it provides 2
factual basis for this on-going discussion. The
facts clearly support that non- profit housing i is
more cost-effective in the long-term,” said
Mike Walker, a kousing advocate and current
B.C. Housing board member.

B.C. Housing is the provincial agency
responsible for the development, management
and administration of social housing in B.C.

Reward your family’s planning

From page 54

it’s a pretty inexpensive incen-
tive.”

Whichever method you
use, savs LeSage, the payoff:
comes most often on that first

thar desperate anced arises
“Being able to che

side of a box and see if what
you want is inside in just a few
seconds, or running your fin-
gers down a list to find what
you want, is a whole fot easier
on the nerves than tearing

open the corners or sides of

random boxes in the hope
you'll tind what you need,” he
suggests. “Plus, it helps to
keep the unpacking process
logical and organized, so vou
can put things in place quickly
and efficiently.”

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