Canada Mortgage and Housing Corporation (CMHC) is announcing today seed funding of $4 million this year for the development of affordable housing.
“CMHC is committed to helping Canadians access safe affordable housing,” said Karen Kinsley, CMHC President. “One way to achieve this is by providing support in the early stage of developing affordable housing projects. “With Seed Funding, CMHC provides financial assistance to develop a sound business case, allowing groups to make a solid start on their housing projects.” Read More
Housing starts will begin to taper off in 2006, and reach 222,200 units after hitting 225,481 units in 2005, according to Canada Mortgage and Housing Corporation’s (CMHC) second quarter Housing Market Outlook, Canada Edition report. Residential construction will continue to ease in 2007 to 204,100 units, marking 6 consecutive years in which housing starts exceed 200,000 units. “Housing starts this year will be stronger than previously forecast, mainly due to persistent strong demand in Alberta and British Columbia, but will not match last year’s pace,” said Bob Dugan, Chief Economist at CMHC. “Higher mortgage carrying costs, due to modest increases in mortgage rates, and rising house prices will temper housing demand this year and next.” 
