This story was originally published by The Conversation.
The housing affordability crisis seems impossible to solve. Policies intended to help people priced out of the market often serve to fan the flames and increase costs.
An example is tax-free down payment plans like the one just announced in the federal 2022 budget, which can drive up prices by allowing more buyers to compete for available units.
To make housing truly affordable, governments need to take a different approach. The budget takes a small step in the right direction by allocating $500 million of direct funding and $1 billion in loans to create more non-profit housing co-operatives.
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