Mr. Speaker, we know that speculative investments in the real estate sector are contributing to pushing home prices higher. That is why we have legislated an annual 1% tax on vacant, non-residential, non-Canadian owned properties, as well as a two-year ban on foreign ownership of Canadian residential real estate.
We have also committed to reviewing the tax treatment of real estate investment trusts and are launching a federal review of housing as an asset class. This is what federal leadership on the financialization of housing looks like.