For comments to the OSFI about the CMHC
If you have a moment send a quick e-mail here:
B20@osfi-bsif.gc.ca
You can mention the $600 Billion Liability that is sitting on our shoulders, the weak, pro-RE CMHC board and the criticisms of risk management heaped on them by the IMF, Nomura, Bloomberg, the Globe and Mail and others.
You can mention that they have distorted their mandate of helping Canadian's buy housing they can AFFORD and have helped fuel the current housing boom which has brought prices to a record lack of afforbility.
You can mention how the CMHC has led to lax lending by the banks, with the same US-style zero down, money back mortgages due to the risk being immediately transferred to the tax-payer. Anything will do. Now is our moment...The prudent, the cautious, those who do not want to put our country at risk of financial ruin.
