Mr. Speaker, as several other members have spoken to, the federal government does not act alone in the housing sector. B.C. also has some very strong measures around foreign ownership and vacant housing, so we are adding to that. It is not the federal government alone that is trying to curb that speculative force out of the market. We are working very hard with the B.C. government to explore other options and other methods, including using FINTRAC to trace some of the questionable money-laundering techniques that are hurting housing prices in this country and pushing them away from Canadians.
We have also worked with municipalities that are bringing in regulations to limit Airbnb or ghost hotels emerging in new projects. We have worked very closely using the tax codes to track ownership, to tax it properly as income-producing property, and to make sure that we try to return much of that housing to the market so that Canadians can buy it, instead of having it rented out in a speculative manner. We are working with municipalities on that front to provide a solution.
Each one of these methods by itself may not appear to have a comprehensive approach to solving the problem overnight. I wish there were a flip of the switch that we could trigger to solve the crisis, but we have to work on all these fronts: limiting Airbnb's impact on the market, limiting foreign ownership, limiting the money laundering, limiting the way speculation is driving housing prices. All of these measures are being approached through the national housing strategy, while we also focus on social housing supply and new market rentals. It is a comprehensive, coordinated approach—