Some juicy quotes about the CMHC fueled Canadian housing market in this article over at Macleans. How much longer can this madness go on?
“The CMHC is a driving force in the housing market. But critics warn its policies could fuel a U.S.-style meltdown.”
“CMHC’s balance sheet looks strikingly similar to both Fannie and Freddie”
“CMHC has distorted the housing market by making homes, especially ones that are on the pricier end of the spectrum, more affordable and encouraged a lot of people to get in over their heads.”
The full article is here and is worth the read.