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House Hansard - 21

44th Parl. 1st Sess.
February 1, 2022 10:00AM
Context: House Hansard - 21 - Feb/1/22
Ms. Michelle Ferreri (Peterborough—Kawartha, CPC)
  • Feb/1/22 2:19:08 p.m.
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Mr. Speaker, Bloomberg reports Canada has the second most inflated housing bubble in the world. Listen to this letter from a Peterborough—Kawartha constituent: Dear MP Ferreri, my 26-year-old son and his partner put in an offer on a house today; a 40-year-old, 1,200-square-foot bungalow, no appliances, on a tiny lot and no air conditioning. It was listed for $599,000. My son offered $702,000 with no conditions. There were 18 offers and it sold for $830,000. My son has been pre-approved for $700,000 and it is not enough. He and his partner have great jobs and I have even cosigned. What is the incentive for our children to get educated and get a job, when their wages cannot meet the demand of society? People are losing hope of ever having a home. This economic crisis is a mental health crisis. We need federal leadership, not “just inflation”.
162 words
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