Mr. Chair, ladies and gentlemen, this is our housing minister. The answer is $2,200.
What we have is double trouble. The Prime Minister promised housing would be more affordable when he took office. At that time, the average needed minimum down payment was $22,000. It has now risen to $47,000. The average mortgage payment was $1,400. It has now risen to $3,100. The average rent on a two-bedroom was $1,172. It has now risen to $2,227. It is double trouble.
Speaking of double trouble, that is in the headline in a New York Post article, which says, “Double trouble: A house in Canada now costs nearly twice what it does in the US”.
Could the minister explain why a house is more expensive in Canada than it is in the U.S., where there is 10 times the people and a smaller land mass? Why?