Last year, $346 billion—20 per cent of Canada’s gross domestic product (GDP)—was spent on housing-related activities, according to Canada Mortgage and Housing Corporation (CMHC).
As stated in its 2011 report, “A Solid Foundation for Generations, ” the national agency itself provided $2 billion in support for housing programs, which includes $1.7 billion for federal funding in support of almost 605,000 families living in existing social housing under long-term arrangements.