Hon. Marc Gold (Government Representative in the Senate): Thank you for your question. Indeed, the CMHC report underlines the critical and urgent need for the supply of new houses to be increased, and that’s why the government brought forth — as I reported in this chamber and I will not on elaborate further — a suite of new measures to tackle this crisis by putting Canada on track to double the number of construction of new homes over the next decade.

I will only say, in an echo to Senator Plett, prior to my political life, I was in business and was involved with real estate. Those of you who have experience in real estate know there are many factors that go into an entrepreneur’s decision whether to build or not to build, and those have to do with many factors that help explain, to some degree, why we are having a challenge in this country in building sufficient houses and homes to meet the increasing demands.

Hon. Yonah Martin (Deputy Leader of the Opposition): Senator Gold, back in May, I raised with you the massive shortfall between the amount of housing the Trudeau government is promising and the amount Canada needs just to restore housing affordability by 2030. Earlier this month, the Canada Mortgage and Housing Corporation, or CMHC, said our country needs about 3.5 million more houses over and above what is already projected. This is roughly the same amount CMHC said we needed in a report released last year. So more than a year later, we haven’t seen progress.

Leader, your government first promised the Housing Accelerator Fund in 2021, yet it didn’t accept applications until this past July and it hasn’t built a single house. Why did it take so long for the Trudeau government to get an accelerator fund up and running during a housing crisis?

Senator Plett: Sounds like deceleration.