May 5, 2022 5:40am
Canada Mortgage and Housing Corporation says all levels of government, organizations and the private sector need to work together to solve housing challenges.
The annual report said 2021 was a difficult year for Canadians, especially racialized and Indigenous people who struggled to find suitable housing they could afford.
It said others were displaced by extreme climate events. Housing affordability remains a top concern for all Canadians and for the federal government.
Nearly one-third of all new investments in the 2022 federal budget are for housing, mainly building on the success of the National Housing Strategy (NHS).
The national Housing Strategy saw more than $19 billion committed by the end of 2021 to build and repair more than 174,500 units and counting. In 2021, CMHC homeowner insurance products helped homebuyers purchase over 73,000 housing units across Canada, with just over 17% insured in rural areas of Canada.
