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House Hansard - 285

44th Parl. 1st Sess.
February 26, 2024 11:00AM
Context: House Hansard - 285 - Feb/26/24
Ms. Elizabeth May (Saanich—Gulf Islands, GP)
  • Feb/26/24 3:42:17 p.m.
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Madam Speaker, I rise today with a petition of deep concern to residents of Saanich—Gulf Islands, and I dare say of all our ridings across Canada, regarding the crisis of home affordability. The petitioners point out the key problems that have caused the problem. The rise in home costs has to do with the financialization of homes; treating housing as an investment and, worse than that, as a matter of some speculation and gambling; and the use of Canada's housing market to launder money and evade taxes. The petitioners call on the Government of Canada to redefine affordable housing, to have an updated formula to better reflect the current economic conditions; to ensure that corporate interests and real estate investment trusts are brought to heel when it comes to excess profiteering; and to require restrictive covenants on affordable housing, which are units built with taxpayer support, to ensure that they are not flipped for personal gain. The petitioners call for a number of very sensible measures to prioritize the funding for non-profit and co-op housing.
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