Mr. Speaker, to continue with what the member for Surrey—Newton mentioned on the B-20 stress test, we know that people all across the country have been heavily impacted. None of the measures in the budget will help offset the impact of the B-20 stress test on young people and young families trying to get into housing. I would like the member's comments on this.
About $480,000 is what the shared equity mortgage plan would allow for, plus the down payment. In the GTA area specifically, when I looked at the price of homes, only about 500 homes out of over 20,000 listings would be eligible for this plan. It would be marginal. That is what CMHC said. It would have a marginal impact on the market. It would not be transformational in any way, but the government would put at risk $1.25 billion to play the real estate market.
I would like to hear my colleague's thoughts on whether this would be a wise use of our money instead of just fixing the B-20 stress test.