Remind me, the point of CMHC again? Homeless CRAB Park campers in Vancouver, BC evicted, pitch new camp next door – June 16, 2020,

There are two State-owned Crown Corporations that annoy me the most, the first being Canada Post, the second being CMHC. In my opinion, Canada Post is one of the worst Crown Corporations in Canada and personally, if it has to exist I’d prefer it not be State-owned Enterprise, instead, it should be a government taxpayer liability because at the very least prices would be lower and they’d cater to the needs of the private sector.

The other Crown corporation I can’t stand is the Canada Mortgage and Housing Corporation, consider reading up on their history and try to comprehend that it’s history is that it’s superseding agency was established after World War II, to help returning war veterans find housing. It has since expanded its mandate to assist housing for all Canadians

Now that you comprehend this, consider reading the article below:

Homeless CRAB Park campers show little sign of obeying injunction | vancouversun.com

Now, if you haven’t been paying attention, the reality of the situation in Canada is this

How many people are homeless in a given year?
In the State of Homelessness in Canada 2016 report, it was estimated that at least 235,000 Canadians experience homelessness in a given year. The actual number is potentially much higher, given that many people who are unhoused live with friends or relatives, and do not come into contact with emergency shelters. Data from a Ipsos Reid poll in March 2013 suggests that as many as 1.3 million Canadians have experienced homelessness or extremely insecure housing at some point during the past five years.

How many people are homeless in Canada? | homelesshub.ca 2013

So, what’s going on here? Why are so many people homes in Canada? The answer is the cost of living is not in sink with the Mainstreet economy. Furthermore, CMHC is now in the business of insuring mortgages to people who would otherwise not qualify for a mortgage.

Canada used to have a Glass–Steagall legislation it was abandoned and if you’re unfamiliar with what it was

The Glass–Steagall Act was a part of the 1933 Banking Act. It placed restrictions on activities that commercial banks and investment banks (or other securities firms) could do. It effectively separated those activities, so the two types of business could not mix, in order to protect consumer’s money from speculative use. The Banking Act of 1935 clarified and otherwise amended Glass–Steagall.

Well, because CMHC is in the business of insuring mortgages, the CMHC the insurer and the Bank of Canada which is also a Crown Corporation work alongside each other to make sure UNAFFORDABLE mortgages get paid, why? Because CMHC guarantees its shareholders that they will be paid by hook or by crook.

Canadian taxpayers or on the hook if CMHC mortgages can’t be paid, it may not seem like a big deal, but it’s very important to the stability of this country and everybody knows it. Anyway, in my opinion, being that CMHC allows people an entities whom otherwise wouldn’t qualify to qualify for mortgages, they’ve helped to make the cost of living higher which has made people who otherwise wouldn’t be homeless, now living on the streets.

It should also be noted that Rent Controls in Vancouver are also competing with CMHC because you see without CMHC, a lot condos that exist in B.C quite possibly could have been apartment rentals. It’s a national disgrace what CMHC is doing to our country, but at least for now, it doesn’t appear that to matter that much to Canadians.

Homeless campers evicted from parking lot near CRAB Park pitch new camp next door | CBC

Interesting times ahead!