Mr. Speaker, the Prime Minister has caused the mortgage crisis we now face. Back in 2021-22, he flooded the economy with cheap and excessive cash that went into the mortgage system. It bid up the price of housing. House prices had doubled under his leadership and then Canadians were forced to take on massive, and in some cases, million-dollar, mortgages in order to buy a home.
He promised them that rates would be low for long but then his deficits juiced inflation, which pushed up interest rates and now, over the next three years, many of those same families will face 40% increases in their mortgage payments.
How is he going to save their homes now that he put them in peril?