Mr. Speaker, I absolutely think we will. I can speak to that because I lived through that. I lived through the 1990s. Like I said, my first mortgage had a 13% interest rate and I worry that my children and my future grandchildren, if I have any, will have to deal with this. They will have high interest rates that they simply will not be able to afford. When we talk about housing affordability being out of reach right now, it is going to be impossible if interest rates go to those kinds of levels. That is the future we are heading into with budgets like this.
In the House of Commons on June 11th, 2021. See this statement in context.