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One Stress That CMHC Didn’t (Publicly) Test
Our national housing agency wants to put your mind at ease, sort of. CMHC published its annual stress test this week. Its report claimed CMHC would remain solvent barring a catastrophic scenario entailing: a 48% home price crash, 25% unemployment, and no government intervention (full details here). The report made headlines across the media, as unlikely as some of its...