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Decentralized Democracy

House Hansard - 233

44th Parl. 1st Sess.
October 17, 2023 10:00AM
Context: House Hansard - 233 - Oct/17/23
Mr. Denis Trudel (Longueuil—Saint-Hubert, BQ)
  • Oct/17/23 12:04:26 p.m.
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Madam Speaker, what he just said is very interesting. He talked about the affordable housing we are losing in Canada. This brings me to a topic that does not come up very much when we talk about the housing crisis: the financialization of housing. We are talking about affordable housing because large investment trusts, often international, investment companies, are buying up affordable housing. Often, they demolish the housing, or they renovate it and then double the price. That is important. When the federal government withdrew from housing in 1993, this phenomenon did not really exist in Canada. Now, we see that between 20% and 30% of the housing stock is owned by these corporations. We do not see the government legislating against that. We will not be able to build the 3.5 million housing units. They will not appear out of thin air. We will have to protect affordability any way we can. I would like my colleague to elaborate. Are there any measures that could be taken right now to counter this financialization that is hurting Canada's housing market so badly here?
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Context: House Hansard - 233 - Oct/17/23
Ms. Arielle Kayabaga
  • Oct/17/23 12:52:54 p.m.
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Madam Speaker, the member is a neighbour in London, so I assume she would also know that an investment has been made in the city of London of $74 million to add 2,000 extra homes. We are talking about the things that we have done to make sure that Canadians and Londoners are able to afford their lives, to send their kids to day care and to afford dental care. These are all things that work together to make sure we are responding to this global challenge of inflation. We are responding to housing affordability to make sure that Canadians have everything they need and that, when this crisis is over, they can continue to live their lives.
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Context: House Hansard - 233 - Oct/17/23
Ms. Julie Dzerowicz
  • Oct/17/23 1:11:59 p.m.
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Madam Speaker, I mentioned $82 billion, which is a significant amount of money. I am very proud of that amount of investment in housing. We need to do more at all levels, including to help support more of the indigenous needs in our country. Last week, the Prime Minister was in the Northwest Territories. He did announce the construction of 50 new affordable homes in an apartment building in downtown Yellowknife. This project will support people who need it the most, including indigenous people, seniors, women, children and those living with disabilities. We have to do more and we know we need to do more.
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Context: House Hansard - 233 - Oct/17/23
Hon. François-Philippe Champagne (Minister of Innovation, Science and Industry, Lib.)
  • Oct/17/23 3:11:08 p.m.
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Mr. Speaker, I would like to thank the colleague for the question, but I am really surprised that she is not talking about the historic investment announced in her riding yesterday. Umicore invested $3 billion in her riding, creating 600 jobs for young people to stay in her riding. We are building the economy of the future. We are investing in electrical vehicles. The member should be rejoicing that we are making smart investments to create growth in this country.
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