Madam Speaker, I thank the member for his concerns. First and foremost, to speak to the challenge that young Canadians face with housing, that is clearly a focus of Build Canada Homes: to ensure we are building affordable homes for the next generation. Many of us who sit in the House have children or grandchildren and have great concerns about the escalation of homebuilding costs and the price of housing across Canada.
We have seen the focus of the investments over the last few years into housing and affordable housing starting to bear fruit as the market pressures are easing. We have seen prices come down for several quarters in a row. We have seen rents come down. That does not mean we slow down. In fact, it means we need to step up efforts. The Build Canada Homes act is all about stepping up those efforts to build more affordable housing and to make sure housing is suitable for the next generation, including student housing and housing for young people who are looking for their first homes. It is complementary to the tax break for first-time homebuyers that the House is bringing forward.
We need to have a number of tools. Build Canada Homes is streamlining the process of moving affordable housing forward for Canada with a lean and nimble agency that will deliver that.