Mr. Chair, there is no affordability to focus on. How much have house prices risen in the last year?
House of Commons Hansard #13 of the 44th Parliament, 1st Session. (The original version is on Parliament's site.) The word of the day was chair.
House of Commons Hansard #13 of the 44th Parliament, 1st Session. (The original version is on Parliament's site.) The word of the day was chair.
Pierre Poilievre Conservative Carleton, ON
Mr. Chair, there is no affordability to focus on. How much have house prices risen in the last year?
Randy Boissonnault Liberal Edmonton Centre, AB
Mr. Chair, let me say that the unemployment rate had more than doubled in May 2020, from a pre-pandemic level of 5%.
We are now at 6%.
Pierre Poilievre Conservative Carleton, ON
Mr. Chair, the question was this. How much have house prices inflated in the last year?
Randy Boissonnault Liberal Edmonton Centre, AB
Mr. Chair, I think it is important for the hon. member across the way to understand that our government helped nine million Canadians who lost their job through the CERB.
Pierre Poilievre Conservative Carleton, ON
Mr. Chair, the Liberals hand the minister a speech that a bureaucrat wrote for him and he stays glued to it. Why do we not just elect a robot to read off these speeches that are written by bureaucrats in the finance department? That robot at least would stick more tightly to the script than he has. If he does not actually have any answers to the factual questions, is it possible that he could be replaced with a robot?
Randy Boissonnault Liberal Edmonton Centre, AB
Mr. Chair, it is unfortunate the member opposite does not like the answers I am providing, but I know Canadians do. The net worth of Canadian households fell by 3.6% in the first quarter of 2020, one of the largest declines on record, and this metric is now up 22% from its pre-crisis level. Consumer confidence is back on the rise, with 156,000 jobs announced last week and 106% of jobs that are back.
Pierre Poilievre Conservative Carleton, ON
Mr. Chair, the question was not how much poorer Canadians are; it was how much more expensive their housing has become.
Can the member tell us this? What is the average house price right across Canada today?
Randy Boissonnault Liberal Edmonton Centre, AB
Mr. Chair, I think labour force participation is a good metric to help answer the member's question. It has reached a new high of 79.6%. That shows a strong sign of confidence with respect to job prospects. That is how people—
Pierre Poilievre Conservative Carleton, ON
Mr. Chair, can the average Canadian afford the average house?
Randy Boissonnault Liberal Edmonton Centre, AB
Mr. Chair, I am not entirely sure what the question was, but I can say that 106%—
Pierre Poilievre Conservative Carleton, ON
Mr. Chair, the question was this. Can the average Canadian afford the average house?
Randy Boissonnault Liberal Edmonton Centre, AB
Mr. Chair, we are there to support housing affordability and will continue to do so.
Pierre Poilievre Conservative Carleton, ON
Mr. Chair, maybe more specifically, what share of the average Canadians' take-home pay would they have to spend on mortgages and other housing costs in order to live in the average house?
Randy Boissonnault Liberal Edmonton Centre, AB
Mr. Chair, housing is a right. That is why this House has declared it as such. We made historic investments in housing stock, housing affordability and affordable housing, and will continue to do so.
Pierre Poilievre Conservative Carleton, ON
Mr. Chair, what would it cost the average person to buy the average house in Canada today?
Supplementary Estimates (B), 2021-22Business of SupplyGovernment Orders
Liberal
Randy Boissonnault Liberal Edmonton Centre, AB
Mr. Chair, I think it is important to say that the economic contraction of the Canadian economy was 17%—
Pierre Poilievre Conservative Carleton, ON
Mr. Chair, we know the economy collapsed, but somehow real estate prices went up. The question is how much would it cost the average family to afford the average house today?
Randy Boissonnault Liberal Edmonton Centre, AB
Mr. Chair, GDP has rebounded to almost 99% of its pre-pandemic level, 106% of jobs have been recovered and 156,000 jobs were announced just last week.
Pierre Poilievre Conservative Carleton, ON
Mr. Chair, what is the average rental cost for the average Canadian today?
Randy Boissonnault Liberal Edmonton Centre, AB
Mr. Chair, over the first half of 2020, employment income fell by an unprecedented $28 billion, and now it is back.
Pierre Poilievre Conservative Carleton, ON
Mr. Chair, how many barrels of oil does Canada import from foreign producers every year?
Randy Boissonnault Liberal Edmonton Centre, AB
Mr. Chair, we support the energy sector and will continue to do so.
