That amount of investment is needed to meet the estimated cost of building the millions of homes necessary to address the affordability crisis, the national housing agency said on Oct. 3. It said last month that Canada still needs“The amount of money is so enormous that we really need the private sector involved,” deputy chief economist Aled ab Iorwerth said. “The government can’t do it alone.”CMHC said more than 95 per cent of the housing stock is privately owned in some form or another.
Both a range of government policies and investments and increased participation from the private sector are imperative, it said. He said that while there is concern about profits, the CMHC doesn’t have any evidence there are abnormal profits. “Given the positive role private ownership can bring, the activities of some bad actors need to be addressed through effective regulation rather than blaming the whole industry,” it said.Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Comments may take up to an hour for moderation before appearing on the site. We ask you to keep your comments relevant and respectful.
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