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”.

  • patatas@sh.itjust.worksOP
    2·
    2 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.