this post was submitted on 29 Jan 2024
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Canada to offer universities, colleges low-cost loans to build new student housing (www.ctvnews.ca)
submitted 10 months ago by [email protected] to c/[email protected]
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[–] bl4ckblooc 8 points 10 months ago (3 children)

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?

[–] FireRetardant 5 points 10 months ago (1 children)

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.

[–] bl4ckblooc -2 points 10 months ago

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?

[–] [email protected] 2 points 10 months ago

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.

[–] [email protected] 1 points 10 months ago* (last edited 10 months ago)

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.