Mr. Chair, I agree with the hon. member that speculative investments in real estate are contributing to pushing housing prices higher. That is why we have legislated a number of measures that can deal with this, including an annual 1% tax on the value of vacant residential real estate that is not owned by Canadians or Canadian residents, as well as a two-year ban on foreign investment in Canadian residential properties. We have also committed to reviewing the tax treatment of real estate investment trusts and, through budget 2022, we announced the launch of a federal review of housing as an asset class.
In the House of Commons on May 15th, 2023. See this statement in context.