SoVote

Decentralized Democracy

House Hansard - 106

44th Parl. 1st Sess.
October 3, 2022 11:00AM
Context: House Hansard - 106 - Oct/3/22
Mr. Mike Morrice (Kitchener Centre, GP)
  • Oct/3/22 12:27:33 p.m.
  • Watch
  • Re: Bill C-31 
Madam Speaker, I know the member for St. Albert—Edmonton has been interested in finding common ground in the chamber. Just last week, he proposed and sponsored a bill from the Senate that was passed here unanimously. In this spirit, when he speaks about the cost of housing, we both agree that much more needs to be done to address increased unaffordability. One issue I hope he could comment on is the rules of the market that currently favour corporate investors, such as real estate investment trusts. I have two questions. Does the member agree that homes should be for people to live in and not commodities for investors to trade? Is he not similarly concerned that more needs to be done to tilt the market back toward regular Canadians, young people, for example, who are looking to afford rental housing in communities across the country?
147 words
  • Hear!
  • Rabble!
  • star_border
Context: House Hansard - 106 - Oct/3/22
Mr. Michael Cooper
  • Oct/3/22 12:28:29 p.m.
  • Watch
  • Re: Bill C-31 
Madam Speaker, I appreciate working collaboratively with the member for Kitchener Centre on some issues of common ground. The root of the problem of which the member speaks goes back to the half a trillion dollars that the government pumped out over the past two years, money that went into the mortgage and finance systems, which was borrowed out to investors who bought up properties and bid up prices. As a consequence, housing prices have gone up 52% because of that policy.
82 words
  • Hear!
  • Rabble!
  • star_border
Context: House Hansard - 106 - Oct/3/22
Mr. Mike Morrice (Kitchener Centre, GP)
  • Oct/3/22 12:44:38 p.m.
  • Watch
  • Re: Bill C-31 
Madam Speaker, I want to start by saying how much I appreciate the member for Vancouver East for her advocacy in addressing the root causes of the housing crisis. I wonder if she could share a bit more specifically with respect to corporate investors and the extent to which there is preferential tax treatment for them, as they are gutting out the core affordable housing supply, which we so desperately need.
71 words
All Topics
  • Hear!
  • Rabble!
  • star_border
Context: House Hansard - 106 - Oct/3/22
Ms. Jenny Kwan
  • Oct/3/22 12:45:03 p.m.
  • Watch
  • Re: Bill C-31 
Madam Speaker, what we are seeing in the housing crisis is this: We are losing housing stock faster than we can build it. The reality is that wealthy investors are coming in and buying up the stock, and in that process, under the real estate investment trusts, for example, they get preferential tax treatment. They do not have to pay taxes at the corporate rate, so these investors are getting a windfall, and we have to stop that practice. Housing should not be treated as a commodity. It should be ensured that it will be there to house people. That is why the NDP is calling for the government to put a moratorium on the financialization of housing, support non-profits to get into the market to buy the stock and stop the preferential tax treatment.
136 words
All Topics
  • Hear!
  • Rabble!
  • star_border