Madam Speaker, the fact is that promises matter. It is why a few weeks ago I asked the Prime Minister about an important promise made last April, just over a year ago now, that would have helped address the housing crisis.
I should pause to talk about that crisis that we are in the midst of. It is one that has led to the unsheltered population in my community more than tripling since 2018. It is also why we are seeing house prices across Kitchener and Waterloo now being eight times the median family income, whereas back in 2005 it was only three times as much. The fact is that house prices have gone up 275% and wages have not only not kept pace, but they are not even close; wages have gone up 42%. We can look at the fact that for every one new affordable unit being created across the country, we are seeing 15 affordable private units being lost.
Obviously, those investments are not adding up, so here is that promise from budget 2022, released last April. It said:
...that the government will engage with provinces and territories over the next year to develop and implement a Home Buyers’ Bill of Rights and bring forward a national plan to end blind bidding. Among other things, the Home Buyers’ Bill of Rights could also include ensuring a legal right to a home inspection and ensuring transparency on the history of sales prices on title searches.
These are good and important measures. The right to a home inspection, for example, would help protect buyers and give them assurance before making a purchase at a time when multiple bids are coming in and many are getting squeezed out; and eliminating blind bidding would help ensure that others know the other bids that are being made and would help reduce the inflated prices when homes sell; and yet, it has been silence over an entire year until budget 2023.
Here is what was promised in budget 2023 this past April: “The government is also working with provinces and territories on the development of a Home Buyers’ Bill of Rights,...”. Therefore, a whole year has passed and what do we have to show for it? We have actually gone backwards. We have lost the commitment to blind bidding being eliminated altogether; that is just gone. We have also lost a commitment for a date to actually do anything. This is at a time when other levels of government are moving with urgency.
Here is what the office of the federal housing advocate had to say in assessing the last budget. She said:
The newly unveiled Federal Budget is a sorry disappointment. It completely misses the mark on addressing the most pressing housing crisis this country has ever seen.
When I asked the Prime Minister when this promise would be fulfilled, he went on to tell me how great the promise is. Well, it is not good enough. We are in a crisis. It is one that is affecting neighbours of mine and, in fact, defining my community today and into the future. Therefore, tonight I would like to hear from the parliamentary secretary. In light of not having any commitment for a timeline for action being taken and the fact that it is now removed from this budget, will the parliamentary secretary answer my question and tell us when the federal government intends on actually introducing and moving forward with the homebuyers' bill of rights?