SoVote

Decentralized Democracy

House Hansard - 18

44th Parl. 1st Sess.
December 15, 2021 02:00PM
Context: House Hansard - 18 - Dec/15/21
Hon. Pierre Poilievre (Carleton, CPC)
  • Dec/15/21 2:56:31 p.m.
  • Watch
Mr. Speaker, asked about the $120,000 year-over-year increase in housing prices, the top economists for The Canadian Real Estate Association say this is the biggest gain of all time and that certainly in dollars it is far larger than anything that has ever happened. Why is this? We cannot blame supply chains, because land does not have supply chains. We cannot blame COVID, because almost all of the houses in Canada were built before COVID happened. In fact, the things that drive house prices, namely wages, immigration and GDP, are all down. If the underlying means with which to buy housing are all down, why is it that real estate prices are up by record amounts?
119 words
  • Hear!
  • Rabble!
  • star_border
Context: House Hansard - 18 - Dec/15/21
Hon. Pierre Poilievre (Carleton, CPC)
  • Dec/15/21 2:58:01 p.m.
  • Watch
Mr. Speaker, the question is: Why did housing prices go up so much with wages, GDP and immigration down? With all of the housing supply being right here in Canada, not linked to a so-called global supply chain, what is causing this eye-popping record increase in the cost of owning a house? It just so happens that prices started rising right when the government began printing $400 billion of new cash into the financial system, $200 billion of which went into increased mortgage lending, with the investor class getting the preponderance of that new money. Why did the Prime Minister give so much to the “have yachts” and take from the have-nots?
117 words
  • Hear!
  • Rabble!
  • star_border
Context: House Hansard - 18 - Dec/15/21
Hon. Pierre Poilievre (Carleton, CPC)
  • Dec/15/21 2:59:24 p.m.
  • Watch
We did, because they all failed, Mr. Speaker. The proof is in the pudding. Housing prices now are higher than ever before. It costs $720,000 for the average house, not a fancy mansion like the one the Prime Minister inherited or the one taxpayers pay to house him in. An average house costs $1 million in Canada's biggest city. This is broadening the gap between rich and poor. He cannot blame the rest of the world for the problem that is happening here at home. Why exactly does Canada have the world's second-biggest housing bubble?
99 words
  • Hear!
  • Rabble!
  • star_border
Context: House Hansard - 18 - Dec/15/21
Hon. Pierre Poilievre (Carleton, CPC)
  • Dec/15/21 3:00:39 p.m.
  • Watch
Mr. Speaker, what makes sense to him is to give cheap debt to investors to buy their buildings. Investors have doubled the amount they have been able to borrow on the cheap because of the Prime Minister's money printing. I am sorry that the Prime Minister took my question personally, but the 30-year-olds who will be celebrating Christmas in their parents' homes are taking that personally as well. They cannot afford houses for themselves, because this Prime Minister's policies have inflated those costs out of existence. Here is a simple question: Does Canada have a housing bubble or is it just inflation?
106 words
  • Hear!
  • Rabble!
  • star_border