Living as a Service (LaaS)and How It’s Changing Property Ownership

  • Canada’s house prices have grown three times that of household income since 2000
  • Higher house prices reduce the standard of living and constrain economic growth
  • Restrictive land-use policies are associated with housing affordability losses.
  • Solving the middle-income housing affordability crisis will require policy reforms.

What’s Living as a Service?

How does this help the increasing prices in metropolitan cities?

Is anyone using this approach?

‎ ‎ ‎ ‎ ‎ ‎ ‎ ‎ ‎ ‎ ‎ ‎ ‎ ‎ ‎ ‎ ‎‎ ‎ ‎ ‎‎ ‎ ‎ ‎‎‎‎‎ ‎ ‎ ‎ ‎ ‎ ‎ ‎ ‎ ‎ ‎‎‎‎‎‎ ‎‎‎‎‎‎ ‎ ‎ ‎ ‎ ‎ ‎ ‎ ‎ ‎ ‎‎‎‎‎‎ ‎‎‎‎‎‎ ‎ ‎ ‎ ‎ ‎ ‎ ‎ ‎ ‎ ‎‎‎‎‎‎ ‎‎‎‎‎‎ ‎ ‎ ‎ ‎ ‎ ‎ ‎ ‎ ‎ Key Living

Increase in Workforce 📈

An increase in the workforce would be the biggest change that we can notice with these new financing models.

  • Between 2000 and 2012, the number of jobs within the typical commute distance for residents in a major metro area fell by 7 percent.
  • As employment suburbanized, the number of jobs near both the typical city and suburban residents fell.
  • As poor and minority residents shifted toward suburbs in the 2000s, their proximity to jobs fell more than for non-poor and white residents
  • Residents of high-poverty and majority-minority neighborhoods experienced particularly pronounced declines in job proximity.

What do we need to change?

If this is so great, why isn’t this more widespread? Why don’t more people know about it? Why are you learning about it through a 16-year-old’s article?

  • The number of rental apartments went down 25%, while condos went up 25% on rentals.ca in 2019
  • Rental rates for purpose-built rentals are up 16.1% annually, rising from $1,966 per month to $2,283 per month
  • There is a big demand for these types of models, as for the audience that we’re catering to (54% of people renting are aged 0–34) *
  • It’s also predicted that 300,000 renters in Toronto will be living in low income by 2031

What I did with Sidewalk Labs

I proposed a solution that entails co-housing and the support of purpose-built rentals to build more buildings that can support people that are looking for work opportunities in the city.

  • Creating a platform that allows people that are looking to rent and co-house, the ability to find compatible partners that have similar schedules and priorities
  • Focusing their construction to classify as purpose-built rentals to allow lower rental rates for renters
  • Connecting to Toronto’s DLWC system for energy usage.

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Valmik Rao

Valmik Rao

Just a 16-year-old trying to solve the world’s biggest problems…