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Decentralized Democracy

House Hansard - 210

44th Parl. 1st Sess.
June 9, 2023 10:00AM
Context: House Hansard - 210 - Jun/9/23
Mr. Pat Kelly (Calgary Rocky Ridge, CPC)
  • Jun/9/23 11:10:52 a.m.
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Mr. Speaker, the government has been running massive deficits ever since it took office. All this debt has predictably triggered an inflation crisis, which has led to massive mortgage rate hikes. Half of all homeowners say their mortgage was already barely affordable, and now they are one renewal away from a shocking new payment that will add $1,400 a month to a typical family with a mortgage. Rate hikes are also crushing the dreams of new buyers and threatening to collapse transactions that are currently in progress. Young Canadians face housing prices and rents that have doubled, and now the highest interest rates in 25 years. I beg the government to stop making things worse. It must stop the massive deficits that cause inflation and that are driving up mortgage rates to the point that homeowners cannot pay for the homes they own and young people have given up hope of ever owning one.
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