—and has been used in the U.S. for 40 years.
Build Canada Homes will require much more capacity to take out long-term, fixed-rate mortgages guaranteed by the CMHC in order to significantly reduce homelessness and housing need across Canada. While this housing commitment doesn't need to be in the bill, it does need to be explicit. The emphasis on non-market development in Bill C-20 and a review of the definition of affordability need to be undertaken as part of the development of a renewed national housing strategy.
Thank you.