Better ways to fund affordable housing

Re: “New housing key part of possible bid for Olympics,” Aug. 29.

The Winter Olympics are a very inefficient way of providing affordable housing.

According to Forbes magazine, the Pyeongchang Winter Olympics cost US$12.9 billion. Part of that money went to provide housing for the 3,000 or so athletes who participated.

Instead of hosting the Olympics, all of that $12.9 billion could have been used to build basic townhouses.

Assuming each townhouse cost $300,000 each, then 43,000 units could have been built.

Assuming each townhouse sheltered three people, that would provide 129,000 people with housing.

Peter Breedveld, Calgary