Madam Speaker, I think the hon. member for Carleton has spoken more about housing today than he did the entire time he was the minister responsible for CMHC, which is maybe a good thing. However, much of what he said makes absolutely no sense.
I would like the member opposite to answer a very serious question. When the Conservatives decided to go after income trusts in their first mandate, and Jim Flaherty undermined the Conservative commitment to not trust income trusts, the one thing he did not touch was the real estate income trusts, or REITs.
Why did the Conservatives pour jet fuel on the fire and allow the REITs to become the dominant player in the investment side of the real estate industry? What was the thinking behind not curtailing the power that REITs have and the impact they are now having on speculative house prices?