CMHC beats targets for new homes in 2023, despite economic challenges [Financial Post (Toronto, Ontario, Canada)]
Cabot Corporation (CBT)
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Source: Financial Post
You can save this article by registering for free here . Or sign-in if you have an account. Canada Mortgage and Housing Corp. said it exceeded its targets under the National Housing Strategy in 2023 despite what it called “significant economic challenges.” The Crown corporation, charged with administering the country's national housing programs, released its annual report on Monday, revealing its progress in meeting the mandates of the NHS — a 10-year plan launched in 2017. According to the report, CMHC delivered 153,708 new, repaired, or assisted affordable housing units last year, surpassing the NHS's target of 120,000 units. The overall number of new, repaired, or assisted units delivered through CMHC programs in 2023 was 494,319, well above the agency's target of 350,000 units. Article content Article content “ Rising interest rates to tame inflation and labour shortages hindered the country's ability to create much needed housing supply,” said Michel Tremblay, the agen
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