Madam Speaker, I purchased my first home with money that was in an RRSP. My 29-year-old son recently purchased a home; he had been contributing to an RRSP since he started working and was able to use that money as a down payment on his home, so there are young people who are taking advantage of it now. It expands it; it is not the only solution.
I will be quite honest. I worked in commercial mortgage financing for many years, and the stress test is an important tool to ensure that people do not get mortgages that are more than they can afford. We certainly do not want to see a situation like the one in United States, where people were over-mortgaged and were losing their homes. Especially in places like my communities of Oakville, Burlington and Halton, where prices are so high, we need to ensure that people can afford their homes.
I would not support getting rid of the stress test. In fact, I think it is a very important measure that we brought in to ensure that people can stay in their homes once they have purchased them.