Affordable housing is not just a collection of construction material and land costs. It’s a purse that must stretch to cover a rental or purchase . . . after any and all other essential costs have been plucked out. Food and utility costs are some obvious essentials.
This series of articles covers essential costs or benefits that might not seem so obvious, but nonetheless, depending on how they are structured, can turn affordable housing into unaffordable housing.
Access to Banking
So you’ve retired, not as mobile as you once were, but have no need to be in the thick of the action. And you fancy a nice little affordable cottage at the far reaches of the village. Okay, you can get groceries delivered with a phone call.
But what about banking?
Hmm.
Banks have been bailing out from small towns and villages for years now.
Internet Banking? Can you afford the internet, always assuming you can handle the technology?
One solution popular in several European countries is postal banking. Okay, you don’t live in a convenient European country? Well maybe a postal bank will soon be heading your way.
Hard hit by the decline of ‘snail mail’, though boosted by internet shopping, post offices are rethinking their niche in society. In Canada the posties union is proposing that the country get involved in postal banking. Read more at the CBC: Union wants Canada Post to start low-income bank and green shift. Sounds nice, but who pays?
P.S. Green shift? Okay the article also touts green technology — unrelated to postal banking. We trust you can keep the two ideas separated.
