Redefining Affordability: Why CMHC’s Benchmark Shift Matters
Redefining Affordability: Why CMHC’s Benchmark Shift Matters
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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 benchmar...
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".