CMHC sets target to make housing affordable for every Canadian by 2030

An estimated 1.6 million households are considered in ‘core housing need’

A federal housing agency hopes to see every Canadian with an affordable home by 2030 with a plan that lays out a path of experimentation to make it happen.

The Canada Mortgage and Housing Corporation says today that meeting that 2030 target will take help from governments and the economy — hence the aspirational nature of the goal.

An estimated 1.6 million households are considered in “core housing need,” meaning that people live in places that are too expensive for them or that don’t meet their needs.

The plan says hitting the mark will also require removing barriers to housing based on gender, race, sexual orientation and gender identity.

READ MORE: B.C. home sales drop 25% in 2018

READ MORE: ‘Subdued’ housing market predicted in B.C. through 2021, report says

The target is one that the corporation had talked about with stakeholders for months as it took the lead on delivering most of the money in the federal government’s 10-year, $40-billion housing strategy.

Over the next year, the agency plans to dole out some $2.4 billion in loans and funding as part of the strategy and to build 8,300 units and repair 15,000 more by this time next year.

The Canadian Press

Like us on Facebook and follow us on Twitter.

Just Posted

Figures reveal spike in highway traffic jams between Abbotsford and Langley

Nearly one in 20 westbound vehicles between Abbotsford and Langley clocked at under 60 km/h

Taser takedown in Chilliwack complex after incident gets violent

Male suspect became agitated under questioning and repeatedly punched an officer

Harrison looks to test viability of solar power

Harrison has applied for a grant to see whether solar power is an option for its village buildings

Agassiz man pleads guilty in snake venom death of toddler

Plea comes more than five years after the incident in North Vancouver

Funding uncertain, but Agassiz’s Storytime in the Park will go on, organizer says

The literacy program takes place each summer in Agassiz, Harrison and Seabird Island

VIDEO: Agassiz remembers local officer at grave-marking ceremony

Montague White-Fraser had been buried in the Old Cemetery for 92 years without a headstone

Canadian high school science courses behind on climate change, says UBC study

Researchers found performance on key areas varies by province and territory

UPDATE: One dead after house fire in rural Maple Ridge

Dewdney Trunk Road closed, traffic being re-routed

Six inducted into BC Hockey Hall of Fame

The 26th ceremony in Penticton welcomed powerful figures both from on and off the ice

Highway 1 closed near Revelstoke

No estimated time for opening

CRA program to help poor file taxes yields noticeable bump in people helped

Extra money allows volunteer-driven clinics to operate year-round

RCMP investigate two shootings in the Lower Mainland

Incidents happened in Surrey, with a victim being treated at Langley Memorial Hospital

Recall: Certain Pacific oysters may pose threat of paralytic shellfish poisoning

Consumers urged to either return affected packages or throw them out

Most Read