CBC: Rent in Ottawa out of reach for low-income earners, report finds – CMHC overlooked as the main culprit! – July 19, 2019,

Want to find price inflation in Canada? Consider looking at Crown Corporations. The Crown Corporation known as The Canada Mortgage and Housing Corporation (CMHC). Regarding housing prices in Ottawa here’s what the Centre for Canadian Policy Alternatives (CCPA) said about the CMHC as it relates to pricing inflation-related to housing costs.

“New Canada Mortgage and Housing Corporation (CHMC) programs are building more affordable rental housing but the number of new units is modest by historical standards and insufficient for current and future need.”

So, I’m assuming and this is my opinion, is that the Centre for Canadian Policy Alternatives (CCPA) believes that CMHC is in no way contributing to the housing disasters al over Canada and in fact CMHC simply needs more funding to help solve people who want to charge more for rents and charge more to sell their homes? Remember what’s fueling rental prices is greed, you could say greed from the private sector, but that would be incorrect, the greed is coming from the Public sector. CMHC could simply put a lower cap on the mortgage insurance it’s willing to insure, which effectively would contribute to the deflation of the housing market, however, CMHC a Crown Corporation (which is a State-Owned enterprise) dependent on price inflation to remain solvent, refuses to contribute to making housing more affordable for minimum wage earners.

Housing prices affects the rental markets, CMHC also contributes to developers opting to build Condos, where Rental housing would suffice. Building a rental unit on a municipality equates to a cap on potential cap on earnings because in most municipalities there is some form of rental or price controls. A developer can avoid rental controls entirely by building condos. Condos attract foreign investment because a condo, unlike a rental apartment, can be used for INDIVIDUALS as well as companies to store their wealth in, empty condos or condos that aren’t being occupied by income tax-paying wage earners distort local markets as expected income taxes that would help to give the Government a better idea of the needs of their local economy get completely distorted based on foreign demand for local real estate.

Adding to the obvious, more condos and less rental apartments equate to higher rent prices, because there’s less supply. Now if you go to Ottawa similar to if you go to Toronto, even in their downtown cores, it’s embarrassing to see how empty the streets are in comparison to the number of highrise Condos you’ll observe. It’s a national disgrace what CMHC is helping to facilitate in our country.

My main concern with the CBC is their lack of journalism, it’s very disappointing, Crown Corporations are supposed to serve the needs of the poor, not only their employees or the upper-middle classes. It’s too often the case that Crown Corporations are tending to the needs of their workforce and affluent, instead of the needs of hard-working Canadians who don’t work for the State. A very disappointing read, with no substance or solutions. You can read for yourself below.

Rent in Ottawa out of reach for low-income earners, report finds – CBC

Interesting times ahead