Brad Vis at the Human Resources, Skills and Social Development and the Status of Persons with Disabilities Committee

On May 27th, 2021. See this statement in context.

May 27th, 2021 / 4:10 p.m.

Conservative

Brad Vis Conservative Mission—Matsqui—Fraser Canyon, BC

Thank you, Chair.

Thank you, Ms. Bowers, for appearing today. Congratulations on your new role.

You packed a lot into your opening eight minutes and I don't think I'll be able to cover everything I want to talk on today, so I'm just going to jump right to it.

Living in the Fraser Valley, one of the most common questions I get from regular Canadians is on foreign buyers' effects on the real estate market. Recently, we heard from Mr. Vaughan that sometimes our system works better for foreign investors than for Canadians. What data is CMHC collecting right now on foreign buyers? Does CMHC backstop the mortgages of foreign buyers?

In 2016-17, there was CMHC data that outlined that in Metro Vancouver, one in five buyers of condos was in fact a foreign buyer. What does that look like today?

Thank you.

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