Key facts
- CMHC says reducing development fees alone won't solve housing affordability.
- CMHC emphasizes a comprehensive approach is needed.
The Canada Mortgage and Housing Corporation (CMHC) has issued a statement indicating that simply lowering development charges will not be a sufficient solution to the ongoing housing affordability crisis. The Crown corporation stressed that addressing the complex issue requires a more holistic and multi-pronged strategy. While development fees are a component of construction costs, CMHC suggests that other factors and policy interventions are crucial for making housing more accessible.