The CMHC used to directly fund public housing and coops and just…stopped.
This was in the 1980s, and we were told that private lenders and mortgage assistance and P3 developments would be oh so much better. Well, all that did was transfer what little funds the CMHC did have into private hands while not really building much housing, and building functionall zero low-income housing at all.
Coincidentally, housing started to get out of control at about the same time all this happens. How fucking shocking.
…while drunk.