Cocktail Chatter in Vancouver
Posted December 5th, 2009 in Real Estate, Real Estate Stuff | 
Back Then
Slagging
Canada Mortgage and housing has been the recipient of some not-so-nice commentary in regard to it’s influence in helping to create what some claim is ‘a housing bubble’.
Cold Draft
Perfection in all things is difficult. An overall perspective of CMHC, prompts questions.
One asks if the CMHC hype is real? Is the hype politically motivated or, is CMHC a root cause as some suggest, for the perceived housing “bubble”? Do these views overlook the reason CMHC exists? Do they conveniently forget that without CMHC a greater number of Canadians might be living in drafty cabins?
Points of View
CMHC’S purpose: to facilitate elements of the National Housing Act – “National Housing Act was passed by the Parliament of Canada in 1938 and was “intended to promote the construction of new houses, the repair and modernization of existing houses, and the improvement of housing and living conditions. It was later amended in 1985 and 1999.” “The goal of federal policy has, however, remained consistent over time: to establish a housing policy that will enable all Canadians to have decent, adequate, affordable housing. The problem is that the terms “enable,” “decent,” “adequate,” and “affordable” are all subject to a wide variety of interpretations.”
A “wide variety of interpretations” is the essence of the conundrum. Individual perception renders personal opinions of what CMHC does or, does not do. Each opinion, based on fact or fallacy varies and may or may not lead you to conclude that CMHC fulfills it’s mandate and whether it is a good or bad thing.
Does it Really Matter?
Suspect is that for many Canadians who have bought a home or, are considering buying a home, CMHC’s raison d’etre and it’s workings matter little. Further presumed is that most view it as a means to and end and may well consider all else to be cocktail chatter.
