Housing starts are down. They were down this year again. In fact, CMHC's own report predicts—this is from its 2023 “Housing Market Outlook” report—that, “We also expect housing starts to decline in 2023 and remain well below recent levels posted in the 2020-2022 period over the forecast period.”
They were down over those periods, and they're going to be down in the future.
Does that sound like the CMHC is achieving its goal of affordability for all?