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House Hansard - 228

44th Parl. 1st Sess.
October 3, 2023 10:00AM
Context: House Hansard - 228 - Oct/3/23
Mr. Matt Jeneroux (Edmonton Riverbend, CPC)
  • Oct/3/23 3:15:35 p.m.
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Mr. Speaker, I am not sure if members know this, but monthly mortgage payments on a typical family home are now a crushing $3,500 per month. When the leader of the official opposition was the housing minister, homes were attainable and affordable. Now it takes 25 years to save up for a down payment in a city like Toronto. Some families have even had to stretch the terms of their mortgages to a shocking 90 years. Some just cannot make their payments anymore. Let us take Cora Cook, a Barrie, Ontario, woman, who bought a home in January 2022 and was forced to sell when her monthly mortgage payments jumped from $2,800 a year to just over $6,000 a year. After selling belongings and holding garage sales, Cora and her husband could not hang on anymore and were forced to sell. For those clinging on to their homes, time is running out. Our common-sense plan will cut the waste and cap spending so Canadians can once again keep their homes.
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