Wednesday, November 27, 2013
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This is a blog to create awareness about the Canada Mortgage and Housing Corporation and put pressure on our elected officials to sell off the CMHC. The CMHC was established to help people afford housing. Now it enables rampant speculation on housing via their mortgage insurance products backed by taxpayers.
Purpose of the CMHC - National Housing Act
The purpose of this Act, in relation to financing for housing, is to promote housing affordability and choice, to facilitate access to, and competition and efficiency in the provision of, housing finance, to protect the availability of adequate funding for housing at low cost, and generally to contribute to the well-being of the housing sector in the national economy.