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”.

  • snoons@lemmy.caEnglish
    281·
    3 days ago

    “I plan to lower the passing grade from 50% to 40-45% and 30% by 2035.”