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Improving Affordability by Financing Infrastructure More Efficiently
Canada’s federal government has a long history of involvement in municipal infrastructure assistance. In 1938, the government passed the Municipal Improvements Assistance Act, which facilitated loans from 1938 to 1940, primarily aimed at addressing unemployment by supporting sewage and water improvement projects. It was in this spirit of generating employment and economic growth, as well…
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When Will the Fed Declare Victory on Inflation?
The U.S. economic expansion shows no sign of abating. With strong consumer spending, a solid labour market, and inflation at the doorstep of price stability, the outlook is solid. The Federal Reserve Bank of Atlanta is calling for Q1 growth of 3%, following growth of 3.3% in the fourth quarter. It is looking more likely…
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Clarity on the Expanded Canada Mortgage Bond (CMB) Program
In the 2023 Fall Economic Statement, the government announced that it would purchase $30 billion of Canada Mortgage Bonds (CMBs). This commitment followed an earlier statement that it would increase the annual issuance limit from $40 to $60 billion. The primary objective of this initiative is to offer affordable funds to developers for the construction…
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What to Expect from the Economy in 2024
Relief from rising interest rates is finally in sight. Bond yields have started to fall and major central banks are expected to cut their policy interest rates in the coming months. Against this backdrop, what can we expect from the US and Canadian economy in 2024? Below we offer our thoughts. US Outlook The U.S….
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How CMHC Can Support Affordable Housing
Affordable housing faces a significant hurdle in the form of high land costs. One type of land that hasn’t received sufficient consideration in our national housing strategy is brownfields. Brownfield properties refer to vacant, idle, or underutilized sites where prior industrial or commercial activities may have caused environmental contamination, posing challenges for expansion or redevelopment….
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CPI versus PCE – Which is the Best US Inflation Measure?
In December, the Consumer Price Index (CPI) showed a 0.3% increase in inflation, with shelter costs contributing to more than half of this monthly rise. While the CPI is one measure of inflation, the Federal Reserve primarily relies on the price index for personal consumption expenditures (PCE) for its policy setting decisions, and has since…
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CMI Housing Affordability Watch: Accessory Dwelling Units (ADUs) – An Essential Housing Solution in Need of a Flexible Funding Program
CMI monitors the latest developments and offers insights on solutions to Canada’s housing affordability crisis An Accessory Dwelling Unit (ADU) is a broad term that refers to a second residential unit situated on the same lot as an existing primary home. ADUs come in various forms, such as a standalone backyard house, a retrofitted garage,…
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