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Decentralized Democracy

House Hansard - 63

44th Parl. 1st Sess.
May 3, 2022 10:00AM
Context: House Hansard - 63 - May/3/22
Mr. Luc Desilets (Rivière-des-Mille-Îles, BQ)
  • May/3/22 12:27:39 p.m.
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  • Re: Bill C-8 
Madam Speaker, I thank my colleague for his very sensitive speech. I came to really enjoy his company after spending 12 days with him on a recent mission in Italy. I would like to know what he thinks about housing affordability. The real estate market is obviously overheated, given that the vacancy rate is under 3%, prices have gone up 18.6% over the past five years and it is considered normal to pay $2,225 a month in rent in Montreal, judging from what the government is saying. What does my colleague think about that? Does he have any solutions to propose?
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Context: House Hansard - 63 - May/3/22
Mr. Blake Richards (Banff—Airdrie, CPC)
  • May/3/22 2:56:16 p.m.
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Mr. Speaker, after seven years of the Liberal government, the price of the average home has doubled from $400,000 to $800,000. More and more Canadians are unable to afford a home, and others cannot even afford rent. In Canmore and Banff, people are forced to live in vans or share apartments with a dozen other people because they cannot even afford rent, let alone buy a home. In Airdrie and Cochrane, young couples are living in their parents' basements with their children. No matter how hard people work, adequate housing is just not attainable. How is this acceptable, and why has the government not done anything to fix it?
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Context: House Hansard - 63 - May/3/22
Mr. Daniel Blaikie (Elmwood—Transcona, NDP)
  • May/3/22 4:55:04 p.m.
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  • Re: Bill C-19 
Madam Speaker, I am going to circle back to the hon. member's comments about housing and the housing market. We have heard a lot of discussion, particularly from my Conservative colleagues, but also from elsewhere in committee, on the role that government expenditure may play in the housing market. Prior to the pandemic and prior to quantitative easing, we also saw astronomical increases in housing prices over a long period, including when the hon. member was around the cabinet table. We know that private capital is also playing a significant role. There is a significant domestic investor presence in the Canadian market that is eating more and more of the housing stock, and after outbidding Canadians on their dream home or what they were hoping might be their starter home, they then rent it back to them at extraordinary high prices. I wonder if the member might want to take some time, perhaps for the first time, to talk about the role of private capital and domestic investors in the housing market, and the affect they are having on prices in the housing market.
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