Philip Lawrence at the Human Resources, Skills and Social Development and the Status of Persons with Disabilities Committee

On May 27th, 2024. See this statement in context.

May 27th, 2024 / 4:55 p.m.

Conservative

Philip Lawrence Conservative Northumberland—Peterborough South, ON

From there, perhaps we'll talk a little bit about some solutions that you propose in here.

One thing you say is, “Lower interest rates will help” maybe a little bit, but not a lot. You do have also an excellent chart—so you don't have to go searching for it, it's on page 11—that shows the number of housing starts decline as interest rates increase. In fact, we've had testimony on this, as well.

If interest rates continue to stay high—and I will tell you that Tiff Macklem, Governor of the Bank of Canada, said that excessive government spending will lead to interest rates staying high—will that have a detrimental impact on housing affordability?

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