Resolution 2: Investing in co-op housing to support households and the economy

WE RESOLVE:

1. THAT CHF Canada communicate to governments the direct and positive impacts that happen when co-op housing is developed, acquired and repaired, which are important for both households and the economy;
2. AND THAT CHF Canada communicate to governments, partners, media and the public that even though we are in an uncertain economic situation, the co-op housing sector is ready to work with governments to build, acquire and repair co-op housing to support the economy by creating jobs and lessen the impact on households.

OUR REASONS FOR THIS RESOLUTION ARE:

1. With the threat of a global trade war, we are in a period of deeply uncertain economic times, where a recession is possible.
2. The construction industry is indispensable to the economy, but it may face a significant downturn. Public investment in the construction and repair of acquired co-op and non-profit housing can keep the industry going, with tradespeople employed and related jobs secure.
3. The federal government’s response to the 2008 financial crisis was to invest almost $2 billion in the construction and repair of social housing between 2009 and 2011, which had many positive outcomes.
4. Difficult economic times may result in a higher than usual volume of rental buildings for sale. In this scenario, public investment can support the purchase and repair of those buildings by co-ops. This will protect existing renters right away and secure housing outcomes in the long run by significantly growing the co-operative housing sector. It will also immediately produce jobs through repairs, as well as help those needing to sell.

WE THINK THAT THIS WILL COST:

The approach outlined by this resolution can be undertaken in the communications and advocacy activities planned for in the 2025 and 2026 operating budgets.