In a move that received little public fanfare but will have implications for housing policy across Canada, the Canada Mortgage and Housing Corporation (CMHC) has officially abandoned its 2004 benchmark for housing affordability. In its place? The "more re

Under Mark Carney’s Liberal government, the CMHC has quietly redefined ‘housing affordability’ to no longer mean 30% of income, but “perhaps 40-45% … [and] over 50% of income by 2035”.

    • m0darn@lemmy.ca
      22·
      14 days ago

      Canadians should mail letters, ring them up, fax them if they can, to let them know that any reasonable person would consider this goal post shifting a complete abdication of their responsibilities.

      National Office Canada Mortgage and Housing Corporation 700 Montreal Road Ottawa, Ontario K1A 0P7

      Reception/Main number: 613-748-2000 Fax: 613-748-2098

    • patatas@sh.itjust.worksOP
      21·
      13 days ago

      OK, and who appoints the Board? And who sets government policy and tables a budget that determines what the CMHC can realistically do?

      This is absolutely the responsibility of the federal government, even if they don’t author these reports.