Mr. Speaker, in order to supply themselves with cheap cash for their record deficits, the Liberals had the central bank flood lending markets with $400 billion of cash. We now learn that $192 billion of that overflowed into mortgage markets, and a quarter of all mortgages outstanding today are low quality and variable rate, which are highly subject to increases in interest rates. That has inflated housing prices by one-third and created the second-biggest housing bubble in the world.
Will the finance minister admit that Canada has a housing bubble?