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House Hansard - 123

44th Parl. 1st Sess.
November 2, 2022 02:00PM
Context: House Hansard - 123 - Nov/2/22
Ms. Soraya Martinez Ferrada (Parliamentary Secretary to the Minister of Housing and Diversity and Inclusion (Housing), Lib.)
  • Nov/2/22 6:56:25 p.m.
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Madam Speaker, it is always a pleasure to hear members of other parties in the House agree with us on the need to increase housing supply and preserve affordability. It is vital that responsibility for this goal be shared amongst all levels of government, the private sector and the non-profit sector. We all need to do our part to maintain affordability. Too many people in this country are struggling to find housing that they can afford, that meets their needs and that also meets the need to live with dignity by having a safe and affordable home. There is simply not enough supply to meet the demand. Our government has implemented a number of programs under the national housing strategy to increase the supply of housing. However, as my colleague pointed out, supply is only one of the factors driving up the cost of housing. Financialization and speculation have artificially increased prices to such an extent that prices no longer reflect the true value of housing. That is to say nothing of the “renoviction” phenomenon. That is why we brought in a 1% annual tax on vacant residential properties belonging to non-resident, non-Canadian owners. That is also why we adopted a measure prohibiting foreigners from purchasing residential property in Canada for a period of two years. That is also why we are planning a suite of other measures to guarantee that housing in this country is used for its intended purpose, in other words, as a place to live for people in need. Earlier this year, we announced a federal review of housing as an asset class. This fiscal review will help us better understand the role of large corporate players in the market and their impact on Canadian renters and homeowners. We also announced measures to protect buyers and renters against bad practices. We are implementing a homebuyers' bill of rights that will make the process of buying a home more open, transparent and fair. We are also proposing new measures to crack down on illegal activity in our housing market and make sure that property flippers and speculators are paying their fair share of tax. Our government has made housing affordability a priority since we were first elected, and we will continue to do so. It was the cornerstone of our 2022 budget, which proposed measures to address the issue from every angle that could have an impact. I thank my colleague for asking me this question and for giving me another opportunity to talk about housing. Again, it is a shared responsibility. He can count on my full co‑operation in providing affordable housing for all Canadians.
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