This is grim:
Renters are twice as likely to spend more than 30 per cent of their income on housing than homeowners, according to Statscan data released last year, and the agency has found single-person households broadly to be more likely than other household types to be living in unaffordable or unsuitable housing.
…
The report also found higher rates of “material deprivation” among renters and single-person households. Respondents were identified as materially deprived if they couldn’t afford at least two essentials from a list including unexpected expenses, spending money, small gifts, bills, maintaining a comfortable temperature in their home, transportation and more.
It’s something that’s on Joy Edwards’s mind. The 70-year-old has been living in the same Toronto apartment since the 1980s, when she got divorced. While her rent for a two-bedroom apartment is well below the Toronto average, it eats up 60 per cent of her monthly Canada Pension Plan and Old Age Security payments.
Ms. Edwards said she was able to retire by minimizing her expenses and sometimes receiving some food from her church and a local community centre. But with developers expressing interest in her building, she said she worries “all the time” about being asked to leave.
In my EU country you also get that co-op without getting together with anyone before the building is built. Some company builds the building and sells out the apartments. After purchase you are legally bound to your Condominium, which you have mandatory fees depending on the amenities, such as elevators, insurance, sometimes swimming pool maintenance. Residents are just expected to organize themselves. The building is considered cooperatively owned by the apartment owners and therefore you are cooperatively responsible for its maintenance and integrity.
You also have meetings to democratically decide on what to spend on, like electric chargers, which kind of insurance to get or hiring a new administration company to manage things. You can skip the meetings if you want, but legally, you must pay the Condominium dues they give you.
It’s not just 3-4 story buildings either. I’ve been part of 11 story condominiums, with 3 apartments a floor. I never thought this would be something fascinating in some parts of the world. It’s quite normal here. What changed recently is now many condominium meetings are online, because it’s easier.