Madam Speaker, let us start from the top.
Last week, the new head of CMHC, Romy Bowers, said that the government's national housing strategy would not be enough to address affordability because the government had done nothing to engage the private sector in the construction of affordable housing and housing for middle-class Canadians, which the government purports to support. Romy Bowers said that the biggest impediment to affordability was addressing the supply issue we faced in Canada, which was not addressed in the last federal budget.
The stress test that the member for Milton has raised actually makes it harder for young families that have saved and are priced out of the market from ever getting in. It just means they have to wait that much longer in this crazy housing market to find an affordable place to live. Also, the 1% tax, as per the Parliamentary Budgetary Officer, will have a minimal impact on addressing affordability concerns. Also, the co-investment fund has failed to deliver the number of units it purported to do at the very beginning under the national housing strategy—