Mr. Chair, the Canadian Real Estate Association reported that the national average price for a home in March was $401,000, an increase of 6% since March 2013. It doubts that the housing market has reached equilibrium or is cooling. Are we in a bubble right now? It is hard to know.
According to CIBC deputy chief economist Benjamin Tal:
The gap between the importance of the real-estate market to the economy and the lack of publicly available information on it is mind-boggling.
Will the minister work to increase the quality of the available data to allow Canadians to properly assess current risks in the market?