Mr. Speaker, I think it is worthwhile to quote the IMF directly. It said:
In the aftermath of the 2008 financial crisis, Canada’s financial system held up remarkably well—making it the envy of its Group of Seven peers. This relative resilience was particularly impressive considering its most important trading and financial partner, the United States, was the epicenter of the crisis.
It further said that:
Over the past several years, Canada has taken numerous steps to reduce the economy’s vulnerabilities through policies designed to keep financial institutions and the financial system as a whole safer.
That is including housing.