10 May 2019

“In case we take a $10,000 interest on a $100,000 home, no matter what gains or losses are, we share it”, – noted Evan Siddall, CEO of CMHC.

The Corp. will start the program in September. It’s included into the number of plans aimed at making real estate more affordable for millennials. The national prices increase reached 40% in five years.

According to Siddall, the program will not cause a significant prices growth, as the maximum influence could reach 0.02%-0.04%.

He says the maximum limit on losses for the program hasn’t been determined yet. “Canada’s government doesn’t want to take profit from it, we don’t want to trigger prices increase, so we are searching for ways to control it”.