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”.
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”.
To be fair, from what I can find, their board is appointed by the federal govt and they’re absolutely going to take their cues from government policy.
If the Feds had released a budget with money and a plan for housing construction, or if they were forcing large corporate landlords to start selling, or any number of other possible things, then this report would look a lot different.