Key facts
- CMHC states that reducing development charges alone will not solve housing affordability issues.
- CMHC emphasizes a comprehensive approach is necessary to address housing affordability.
The Canada Mortgage and Housing Corporation (CMHC) has issued a statement indicating that simply reducing development charges will not be sufficient to resolve the ongoing housing affordability crisis. The agency stressed that a more holistic and multi-pronged strategy is required to tackle the complex nature of housing affordability issues. This suggests that while development fees are a component of housing costs, other factors such as supply, demand, financing, and government policies also play significant roles.