SoVote

Decentralized Democracy

House Hansard - 12

44th Parl. 1st Sess.
December 7, 2021 10:00AM
Context: House Hansard - 12 - Dec/7/21
Hon. Pierre Poilievre (Carleton, CPC)
  • Dec/7/21 2:45:46 p.m.
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Mr. Speaker, in order to supply themselves with cheap cash for their record deficits, the Liberals had the central bank flood lending markets with $400 billion of cash. We now learn that $192 billion of that overflowed into mortgage markets, and a quarter of all mortgages outstanding today are low-quality and variable-rate, which are highly subject to increases in interest rates. That has inflated housing prices by one-third and created the second-biggest housing bubble in the world. Will the finance minister admit that Canada has a housing bubble?
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Context: House Hansard - 12 - Dec/7/21
Hon. Pierre Poilievre (Carleton, CPC)
  • Dec/7/21 2:47:09 p.m.
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Mr. Speaker, it is always reassuring to have your credit rating backed up by those who said subprime mortgages were rock solid in late 2008, but the question was about Canada's housing bubble. I have asked the minister eight times now in the House of Commons if we have a housing bubble. Raj wants to know. He is driving Uber in addition to having an IT job in order to save up over the next 15 years to make a down payment on a $1 million Brampton home. Canadians deserve to know. Bloomberg has said Canada has the second-most-inflated housing bubble on earth. Yes or no: Will the minister admit that Canada has a housing bubble?
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