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”.

  • sbv@sh.itjust.worksEnglish
    121·
    3 days ago

    While there are concerns that increasing housing supply would cause house prices to fall rapidly and pose a risk to financial stability, this is unlikely. Housing supply cannot be increased rapidly enough in reality to trigger such an event.

    We’re fucked. 🤣