Finance committee  There are two ways of looking at it. One is the element of fairness. I think that addressing blind bidding will improve fairness, because the real estate industry owes fairness both to sellers and to buyers. As far as its impact on housing prices goes, I'm afraid it would have a

Finance committee  I'm not in favour of criminalizing it; I'm in favour of having stakeholders come together to address it, to look at the implications of continuing with it and to come up with a way to address it. I am in favour of eliminating it or reducing it, but not of criminalizing it.

Finance committee  I would defer to Mr. Perrault, who is the chief economist of a bank. He would know where that money came from.

Finance committee  Thank you. I will if I may. The challenge here is that the public anger is directed at the federal government and not at the local municipal governments. There is no Canadian housing market. They're all local housing markets, and your neighbourhood's prices go up and down. Nimby

Finance committee  Thank you. Unlike coffee or groceries that you buy with cash, housing purchases are financed by debt, and the residential market constitutes the largest segment of household debt that we have. If there is additional money that you see, it's most likely the money that is borrowe

Finance committee  In the absence of a significant increase in housing supply, such measures would contribute to the inflationary pressure on housing prices, as they either encourage borrowers to borrow more or facilitate their borrowing. They would have an inflationary pressure.

Finance committee  I think around that time—

Finance committee  Thank you very much. I hope you can hear me correctly. Earlier, we were building something around 300,000 homes—and not just any homes; even in Ontario, there were 40,000 residential rental units being built. Those numbers have declined over the years. Right now we are in the

Finance committee  Not in absolute terms, but in terms of the number of homes built per capita, yes, the rate of construction is almost half.

Finance committee  We do have a housing supply crisis in Canada.

Finance committee  With ultralow mortgage rates, the fact is that the monthly mortgage payment becomes smaller. This means that the homeowners or prospective homebuyers are able to purchase larger-value homes, because their monthly mortgage payments are low. That is the reason they move or gravitat

Finance committee  Thank you. If you look at the rate at which Canada was constructing homes in the 1970s, we were building about 12,000 new dwellings per million population. The rate since then has come down to about 5,000 to 6,000 new dwellings per million population. Not only that, even in abso