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Decentralized Democracy

House Hansard - 186

44th Parl. 1st Sess.
April 27, 2023 10:00AM
Context: House Hansard - 186 - Apr/27/23
Mr. Denis Trudel (Longueuil—Saint-Hubert, BQ)
  • Apr/27/23 12:02:09 p.m.
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Mr. Speaker, I thank my colleague for his question. My question was for the NDP member who spoke before him, since she talked a lot about housing, but I think my colleague should be able to answer. As I said earlier, we have an acute housing crisis in Canada. One of the issues we do not hear that much about in the House is the financialization of housing, which is something really important. It refers to large national and international corporations' growing ownership of Canadian rental housing stock. It is thought that corporate ownership has gone from zero to 22% in 30 years. These large corporations could not care less about the right to housing. Their primary concern is making a profit. We have to deal with this. I would like to ask my colleague if any concrete measures could be taken to tackle this issue.
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Context: House Hansard - 186 - Apr/27/23
Mr. Denis Trudel (Longueuil—Saint-Hubert, BQ)
  • Apr/27/23 1:28:06 p.m.
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Madam Speaker, I thank my hon. colleague for his very inspiring speech. I asked a question earlier for which I did not receive a satisfactory response from another NDP friend. Housing is a top priority in this country. The financialization of housing is a growing phenomenon, where large financial conglomerates are buying more and more rental housing in Canada. According to a study, in the past 30 years, ownership of the rental housing stock by large international financial conglomerates has gone from 0% to 22%. There are no simple solutions to this issue. Obviously, their priority is not the right to housing, but rather their bottom line. We need to address this if we want to address the housing crisis. I would like to know if my colleague has any solutions for dealing with the financialization of housing in Canada.
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