Redefining Affordability: Why CMHC’s Benchmark Shift Matters
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The new boss is the same as the old boss, but what would you expect when you vote for the monopoly man who built his empire selling greenwashing funds that mainly hold large US tech stocks.
Carney does not run the CMHC.
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Mark Carney is awful.
Carney does not run the CMHC. Your point may still be valid but in this context he did not make this decision.
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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”.
Redefining Affordability: Why CMHC’s Benchmark Shift Matters
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
The Real Estate Institute of Canada (www.reic.ca)
Actual headline:
Redefining Affordability: Why CMHC’s Benchmark Shift Matters
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Carney does not run the CMHC.
He did hire housing ministers that ballooned Vancouver real estate however, who also says that housing prices shouldnt come down because its boomers retirement fund.
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Oh, was Peter Julian voted out this last election? Damn I don’t live there anymore but that’s a shame.
Lotta great NDP MPs lost their ridings, really sucks. Matthew Green lost here in Hamilton Centre too, so disappointing
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Carney does not run the CMHC. Your point may still be valid but in this context he did not make this decision.
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.
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CMHC is not run by the Prime Minister or the cabinet. It is a Crown Corporation governed by a Board of Directors. Mr. Carney has not “redefined affordable housing”. https://www.cmhc-schl.gc.ca/about-us/management-and-governance/board-of-directors-and-its-committees
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.
