Madam Speaker, when there is a complete decoupling of house prices from domestic incomes, I think the conclusion is clear that foreign capital is definitely skewing the market. I agree with my hon. colleague that it is time to put effective curbs on foreign speculation, which is destabilizing our local housing markets and putting affordable housing out of the hands of millions of Canadians. However, I must say I disagree with him when he says that the solution is the private markets. If there is one thing that is clear, it is that the private sector has not provided and cannot provide affordable housing for all.
The member mentioned co-ops. Does he agree with the New Democrats that it is time to reimagine and deliver the very successful federal co-op program of the 1970s and 1980s to provide that form of home ownership and hundreds of thousands of units to Canadians?