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Decentralized Democracy

House Hansard - 57

44th Parl. 1st Sess.
April 25, 2022 11:00AM
Context: House Hansard - 57 - Apr/25/22
Mr. Jeremy Patzer (Cypress Hills—Grasslands, CPC)
  • Apr/25/22 4:10:43 p.m.
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Madam Speaker, I appreciated my colleague's speech, when he touched on the savings account, for example. I spoke to a few realtor association groups and talked about people trying to save $50,000 within that account. We also see that about 40% of Canadians are within a couple of hundred dollars of insolvency, so the fact is that most people do not have the means or the wherewithal to save that $50,000 to access the account for a down payment on their home. I am wondering if the member has any thoughts or comments on that.
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Context: House Hansard - 57 - Apr/25/22
Mr. Dan Albas (Central Okanagan—Similkameen—Nicola, CPC)
  • Apr/25/22 5:38:34 p.m.
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Mr. Speaker, I certainly appreciate the member's intervention here today. He specifically cited the tax-free first home savings account as being a measure that his constituents would utilize, so I have some questions for him. First, what about the member's constituents who do not have $8,000 a year to set aside? Second, what happens over the next five years? Obviously, in the previous five years we have seen housing prices almost double. Last, many people, particularly young millennials, are getting bounced because of the Liberal stress test today. Let us say someone scrimps and saves, puts aside all that money, has $40,000 five years from now and then goes to apply and gets bounced. What will the member do? Will he send them an “I'm sorry” card?
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