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.
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