Ever since the subprime mortgage crisis and the recession took a chunk out of the world economy, there has been an increase in people who are struggling financially. Suddenly there are more foreclosures than houses for sale in Mississauga and many people in Wichita found themselves out of a job and unable to afford their current living space. If you've always been able to support yourself before, you might be wondering what your options are. We're here to tell you about low income housing.
Low income housing, also known as affordable housing, is living space set aside by government agencies specifically for people who cannot afford to buy or rent Kitchener real estate at market value. Low income housing is especially important in big cities, where there are large numbers of minimum wage jobs but a high demand for housing that pushes prices beyond what low income earners can hope to afford, but you can also find some low income housing in smaller towns and cities, especially in areas hardest hit by the recession.
You may think that if you have any job at all, you do not qualify to live in this special type of Markham real estate, but you'd be wrong. Low income housing is not aimed at people with no incomes but at people who are underemployed, meaning that what they earn from their jobs cannot cover the basic necessities - food, shelter, and clothing. In fact, in some cases those who have no jobs at all - and therefore no income - do not qualify to live in low income housing projects unless they are supported by welfare or unemployment benefits.
Low income housing is not free, but neither does it cost as much as maintaining Forest Hill houses. Often the rent is set on a case-by-case basis according to how much you can afford. To qualify for low income housing, you will have to apply and present proof of how much you earn. There is usually more demand than there is space, so the people who are most in need will get first priority: this means single parents and elderly people living on fixed incomes.
Though low income housing projects are funded by the government, they are not directly administered by the government. Rather, the government will purchase blocks of Toronto townhouses and allow private individuals and companies to administer them on a contract basis, so you will likely be dealing with a community group or department when you apply.