Redefining Affordability: Why CMHC’s Benchmark Shift Matters

www.reic.ca 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

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".

Canada @lemmy.ml

and

The Carney government, through the CMHC, has quietly redefined "affordable housing" to no longer mean 30% of income, but "perhaps 40-45% ... over 50% of income by 2035"

www.reic.ca /article-june27-25.html

The Carney government, through the CMHC, has quietly redefined "affordable housing" to no longer mean 30% of income, but "perhaps 40-45% ... [and] over 50% of income by 2035"

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Wow, this is big. I mean, I didn't think things were going to get any more affordable, but this deepens my belief in that prediction quite a bit. "Over 50% by 2035" sounds like a fiefdom, because people got a lot more bills than rent/housing - or at least that's my oldthink perspective lol. It's also sobering that this report was published in June and failed, insofar as I know, to make any splash in any Canadian mainstream news. I'm grateful for the Fediverse
- Honestly I only went and looked for the report because of a post on Bluesky by Peter Julian.
  That said, this post seems to have already gotten more reach than a ~~sitting~~ former MP's did on that platform, so you're right about the fediverse!
  Regardless, I agree it should be much bigger news.
  
  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

19 comments