Saturday, October 17, 2009


Central Mortgage and Housing Corporation has been saving the Canadian economy.

So claims a fascinating article in this morning's ROB in the Globe.

The only problem is they've gone slightly mad in the process, raising their own exposure from a $350 Billion limit in 2007 to a $600 Billion limit today.

Can you say, "Risky," boys and girls?

What isn't mentioned at all in the article is an issue that I think is equally important.

If CMHC is doing so darn well, where oh where is all the money they USED TO spend on social housing?

If you want to look at the DTES, mental health and addiction problems, so much of the problem can be put right back at the front door of CMHC which 30 years ago was funding the kind of housing we now so urgently need.

When that practice disappeared, many of our social nightmares began in earnest.

You needn't look at Gregor Nice Boy or even his Royal Meanness over in Victoria for solutions to homelessness.

The cookie jar is in Ottawa. Always has been. And it's called CMHC.

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