CMHC should be privatized says Tory leadership candidate

Michael Chong says that now is the time for the CMHC to be moved into the private sector.

The Conservative MP who is hoping to become the party’s leader, says that the corporation is the largest factor in the rise in house prices due to its provision of government-backed mortgage credit.

“That has contributed to what many argue is a housing bubble. This rapid increase in housing prices has made housing unaffordable,” Chong told the Financial Post.
 

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

Market update:

Get help choosing the best mortgage rate

Just fill in a few details, and we'll arrange for a Mortgage adviser to help you find the best mortgage for your needs

  • How soon do you want a mortgage?
  • Name
  • Where do you live?
  • Phone number
  • E-mail address

Industry news

Submit a press release

Poll

Do you invest in commercial properties?