Thank you, Mr. Chair.
It's a pleasure to be here on behalf of Canada Mortgage and Housing Corporation.
CMHC supports the motion to establish a National Seniors Strategy, and we stand ready to support such a measure through a number of existing programs and services.
CMHC's mission is to help Canadians meet their housing needs. This includes providing assistance to low-income seniors who may not be able to afford suitable housing without government support. We also conduct research and share information on seniors housing. As well, CMHC is the only provider of mortgage loan insurance for multi-unit residential properties, including rental buildings, affordable housing projects, licensed care facilities, and retirement homes.
Research tells us that almost 14% of senior-led households were in core housing need in 2011. This is the most recent year for which this data is available.
Core housing need is a measure of housing affordability that asserts that having to spend more than 30% of your pre-tax income to access adequate and suitable local housing is onerous. The rate of core housing need among senior households was slightly higher than that for all Canadian households. Some 4.6% of senior-led households were in severe core housing need in 2011, meaning they had to spend more than 50% of their income on housing-related costs. This was marginally lower than the rate for all Canadian households.
CMHC recently released seniors housing reports for Canada and all provinces. These reports and a great deal more information on seniors housing are available on our website. We continue to conduct research and provide information on seniors housing markets and also on issues such as accessibility and adaptable housing.
In terms of housing assistance, each year CMHC provides federal funding of approximately $2 billion to help meet the needs of low-income seniors and families, people with disabilities, indigenous people, and victims of family violence, amongst others. Most of this funding is used to support more than 500,000 Canadian households living in existing social housing units across the country, including senior-led households.
Significant federal funding is also provided through the investment in affordable housing agreements with the provinces and territories. Among other things, this funding can be used to help seniors access non-institutional housing. Funding for the IAH was doubled under budget 2016, with an additional $504 million over two years to support new construction and renovation of affordable housing, as well as measures to foster safe independent living and housing affordability.
Recognizing that Canada's senior population is growing and needs special attention, the government's budget 2016 also included over $200 million over two years specifically for seniors housing. This funding is expected to help improve conditions for housing for more than 5,000 low-income senior households across Canada. As of May 31, funding had been committed to more than 930 projects that will assist 3,169 senior households.
The committee will also be aware that budget 2017 included historic funding for housing: $11.2 billion over the next 11 years. Some $3.2 billion of this will be provided to provinces and territories to support key priorities for affordable housing, which may, for example, include measures to support independent living so that Canadian seniors can stay in their homes longer.
Budget 2017 also provides for a $5-billion national housing fund to address critical housing issues and prioritize support for citizens with distinct needs, including seniors. We know from national consultations conducted last year that greater accessibility, availability of wraparound services tied to housing, and more housing options are priorities for Canada's aging population.
I can assure the committee that the needs of seniors are being taken into account as we develop the national housing strategy, which will be launched by Minister Jean-Yves Duclos later this fall.
That concludes my opening remarks, Mr. Chair. I would be pleased to answer any questions.