Madam Speaker, it is time for us to look at how we address the current housing bubble in Canada. It is up to the Liberal government, in its upcoming budget, to come up with a plan to address the incredibly expensive housing market in Canada.
Let me add that the solution is not to tax home equity as some Liberals have suggested. We know, as we speak, that CMHC is conducting a study on taxing the equity in principal residences. The government has denied it has any plans to tax home equity. We should not kid ourselves. The Prime Minister has made many promises and denials before, but has always been found wanting.
The number one challenge with housing in Canada is, of course, a lack of supply. There are many other factors as well. It is up to the Liberal government and the finance minister to table a plan to address the housing crisis in the upcoming budget. To that extent, I agree with the member.