A pandemic Could Impact Housing Markets
Superior health depends upon having adequate and secure housing. Compared to other areas of the world, Canada has some of the best housing conditions. However, insufficient housing and bad quality can have harmful effects on childhood development, resulting in greater health risks like infections and chronic illnesses, and also can have negative psychological effects such as depression, anxiety and other emotional disorders. This is why it is extremely important to find a way to keep housing conditions in the nation at an acceptable level.
The first thing to do to improve housing conditions is to be sure that there is sufficient fresh air and clean, fresh water inside the house. This includes ensuring that there is enough fresh air ventilated throughout the home. If there's inadequate ventilation, then there will be elevated levels of airborne pollution which is a significant cause of several respiratory, chronic diseases. There are lots of distinct resources from where an individual may ventilate his or her home, the most evident being opening windows and doors, but more importantly, opening all of the doors and windows of the rooms to get fresh air into all sections. Additionally it is important to make sure that there is adequate lighting in the rooms, as this is also a significant contributor in improving housing conditions and decreasing the risk of chronic diseases.
Other big factors contributing to poor housing conditions are deficient insulation, and poorly maintained ventilation system. If both of these factors are not taken care of, then there'll be a greater risk of experiencing colds and other respiratory disorders and this might result in a higher risk of various life threatening diseases. 1 big effect of insufficient ventilation systems is a lack of healthy air to breathe in which is detrimental to overall health and should be regarded as a serious health concern.
In Canada, there is still a lot of intolerance towards people on lower incomes, particularly those from cultural and lower socioeconomic status groups. This results in many low income families having limited access to basic necessities such as clean and clean water, electricity, proper sanitation, clean and fresh food, and adequate medical care when required. In addition, there is still widespread discrimination against these very same groups in employment, housing, services and products, in education, healthcare and on lending practices. All these policies and practices create a lot of problems in attaining and maintaining a fair housing environment. The Canadian Human Rights Act and the Canadian Constitution guarantee rights to everybody including the vulnerable and disadvantaged.
The lack of a fair housing environment has also led to an increase in the amount of persons who suffer from one or other kinds of contagious diseases, like the HIV/AIDS. These diseases have reached epidemic proportions. The worrying statistics reveal that in Canada, there was a steady increase in the number of persons contracting HIV. Although the AIDS pandemic is being controlled by effective treatment programs and a global effort, there are still several housing conditions that adversely affect the housing conditions of HIV patients.
As of the end of 2021, according to the CRTC, there was an estimated growth of roughly three percent in the Canadian housing industry. This growth is attributed, at least in part, to how the Mortgage Rate Reduction Program (MRRP) introduced in late 2021 led to lower mortgage rates for first time homeowners, which has, in turn, made more homes available for the affordable home price class. According to Statistics Canada, in 2021, there were an estimated five million fewer homes under the affordable home price category than there were in the end of December 2021, the month the MRRP began. Moreover, Statistics Canada suggested that in line with the worsening pandemic, more people were choosing to stay home rather than enter the traditional work force.
Other factors, like increasing joblessness and underemployment, resulting in a large number of jobless people, lead to the worsening housing market. The reduction in the availability of jobs is very likely to result in more individuals being classified as jobless. In addition to this, the increase in the total population is likely to increase the need for more social services, along with the consequent increase in governmental regulation of the market. Because of this, along with this, together with the pandemic, a severe increase in infectious diseases is very likely to occur. The recent outbreaks of HIV and AIDS are clear evidence of this. There's an ongoing concern about the possibility of a pandemic effecting the housing market in Canada.
The previous pandemic, the HIV/AIDS epidemic, resulted in a drop in home sales and consequently home prices, along with the associated fall in income. Although the current outbreak is not expected to have the same effect on the housing market, housing-industry analysts feel it is a real possibility that a new pandemic could cause significant losses in home sales and consequent home rates. Moreover, a weaker economy, more unemployment, and higher inflation are all potential contributing factors. Up to now, although these issues have had very little influence on the Canadian home market, this outlook may change in the not too distant future. op
