Leave Montreal, save money: CMHC
The Canadian Mortgage and Housing Corporation says households that leave the island of Montreal save money because the cost of commuting is more than offset by cheaper real estate.
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qatzelok 22:24 on 2019-06-05 Permalink
As a child of the suburbs, I’m happy to know that my parents saved money by raising children in social isolation with no services or community.
CMHC makes money off of mortgages, so they have an incentive to manipulate rather than inform.
Roman 06:45 on 2019-06-06 Permalink
I’m sure they didn’t consider/value time. Most middle class professionals are probably valued at at least $100/h (that’s not the same as salary or hourly rate). If your commute is even 1h/day then you’d lose $2,000/mo.
Then there are unquantifiable things like enjoyment, stress from sitting in traffic, lack of social support.
Ephraim 08:13 on 2019-06-06 Permalink
CMHC has no agenda. While it insures mortgages for those who can’t manage the 20% down, it also works on affordable housing and fixing affordable housing. Usually to the tune of $2 billion per year… from those mortgage insurance proceeds.
qatzelok 18:56 on 2019-06-06 Permalink
CMHC has an agenda.
Ex. In 2008, after all those mortgages went bad and Obama gave a years worth of taxes to crooked banks, CMHC bought up billions of bad Canadian mortgages from private banks so that the taxpayers would absorb the losses that private entities created.
Look it up.
Ephraim 19:10 on 2019-06-06 Permalink
CMHC buys and sells mortgages, doesn’t matter to them if they are for suburban or urban properties. Doesn’t matter if it’s young people or old people. And it’s an insurance company and a crown corporation. It’s holding on to over $200 billion in assets. It’s NOT the taxpayers, just like the SAAQ isn’t the taxpayers and the CDPQ isn’t the taxpayers. That’s the point of crown corporations, especially profitable ones.