SoVote

Decentralized Democracy

House Hansard - 197

44th Parl. 1st Sess.
May 15, 2023 11:00AM
Context: House Hansard - 197 - May/15/23
Mr. Adam Chambers (Simcoe North, CPC)
  • May/15/23 2:09:25 p.m.
  • Watch
Mr. Speaker, Canada is in a housing crisis and the government is unwilling to admit it. We are not building homes fast enough and the ones that do get built are more out of reach than they have ever been. It is leaving an entire generation of young people feeling like home ownership is no longer a possibility. Since 2015, mortgage payments have doubled, rent has doubled and the required down payment to buy one's first home has also doubled. In some places, like Orillia, prices have gone up almost 300%. We are now projected to build fewer homes this year than last year. In fact, Canada has the fewest homes per 1,000 residents than any G7 country. The government's approach has been heavy on communication and light on results. What is the government doing now? It has a fancy new account that will take five years to max out, and the government is now supporting banks to unilaterally extend amortization to well over 40 years. This is going to keep house prices high and out of reach for many young Canadians. We need a government that will admit we are in a housing crisis and focus on results.
202 words
  • Hear!
  • Rabble!
  • star_border