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House Hansard - 111

44th Parl. 1st Sess.
October 17, 2022 11:00AM
Context: House Hansard - 111 - Oct/17/22
Mr. Mike Morrice (Kitchener Centre, GP)
  • Oct/17/22 12:56:18 p.m.
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  • Re: Bill C-31 
Madam Speaker, the member for Cumberland—Colchester spoke about the $500 rental benefit in Bill C-31 being insufficient on its own. On that we agree. I would appreciate hearing his perspective on the root cause behind the housing crisis we are in, which is corporate investors treating homes across the country like commodities. The governing party says it needs more time to study the issue while experts across the country are recommending we move forward with sensible measures, like removing tax exemptions for real estate investment trusts. It is a path that then Conservative finance minister, the late Jim Flaherty, started down 13 years ago or more. Can the member comment on a measure like this? I put it forward as Motion No. 71. It would move us toward a housing market that treats homes as places people live, rather than stocks institutional investors trade.
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Context: House Hansard - 111 - Oct/17/22
Mr. Stephen Ellis
  • Oct/17/22 12:57:19 p.m.
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  • Re: Bill C-31 
Madam Speaker, part of the difficulty that Canadians are facing is inflation. We know that interest rates are rising. Some other economic experts think there may even be a recession looming on the horizon. That is absolutely terrifying from an economic perspective. We understand that generations going forward will not be able to afford homes. That is a travesty. That is not the vision that we have for Canada. We understand that the current generation of adult children are living in their parents' basements because they are unable to afford a decent house. That is a travesty. On the weekend, I met with a great friend of mine of many years. Two of his adult children are living in his basement because they are unable to afford a house. Is that a problem? That is a giant problem that I lay directly at the feet of the Liberal government because, clearly, there is no thought about monetary policy on that side of the House.
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