Thank you.
Mr. Hudak, thank you for raising the issue of the sudden and quite marked reduction in the rate of home ownership that has taken place in the last couple of years in Canada. I think a lot of Canadians are quite alarmed about the barriers to home ownership now, having gone through generations in which there was an expectation that if one worked hard and was successful in the employment market, one could own a home in which to raise a family.
You identified the imposition of the mortgage stress test, which, as this committee has heard in earlier meetings from leaders in the mortgage industry, was imposed without any consultation with the mortgage industry whatsoever.
This committee has debated on more than one occasion motions put before it to hold a study on the effect of the mortgage stress test. Would you recommend that this committee study the mortgage stress test and its effect on the housing market?