New Rentals at a Range of Prices Needed to Restore Affordability: Housing Corporation

Building only low-cost rentals isn’t the best way to restore housing affordability, the federal mortgage insurer says. Instead, a balanced mix of construction, including expensive rentals, proves more effective in lowering costs overall. “Building only low-cost housing isn’t optimal,” the Canada Mortgage and Housing Corporation (CMHC) stated in its June Research Insights. “Building only high-cost housing is also not the most optimal solution.” “The study finds that building mid-cost or a balanced mix of low-, mid- and high- cost housing is the best strategy. This is because it makes homes more affordable and benefits most household types,” CMHC stated in the report, as first reported by Blacklock’s Reporter....