Mr. Speaker, when the cost of everything increases, the people who suffer the most are the young people, especially the ones who want to enter the housing market.
As housing prices increase, rent prices also increase. This means that everything costs more. They cannot save for a down payment, and they feel like they are consistently on this hamster wheel. When they do not enter home ownership at a younger age, they cannot start to build assets around them. This is another reason why we are failing the next generation, by not being more serious about our approach to solve this housing crisis.