Mr. Chair, the Bank of Canada says there are signs pointing to a housing correction in Alberta, Toronto, and Vancouver markets, and if that correction happened in these markets simultaneously, the bank has said “the spillover effects to the rest of the economy could be significant”.
Is the minister prepared to heed the Bank of Canada's warning and step in to prevent that from happening? That is not a soft landing when the Bank of Canada is saying that the spillover effects to the economy could be “significant”.