Finance committee  I don't want them to lose their homes, and I don't think—pardon?

Finance committee  I understand that, but if we were to support them infinitely, or even more, to buy a home, they could be in a position where they would lose their home through unemployment and too much indebtedness, so that was a concern. We're also supporting the rental market through a program that was announced in the last budget called the affordable rental innovation fund, and the affordable rental housing financing initiative, both of which will increase the innovation around and the supply of rental housing across this country.

Finance committee  Steve, do you have the data here? We can respond later if we don't have it with us.

Finance committee  We can provide that to you.

Finance committee  We certainly took that into account, as we did the price adjustments in Toronto. We were concerned about the future. The past does not predict the future.

Finance committee  The Minister of Finance makes policy for the nation as a whole, and it's on that that we advise him. He did not, and we did not in our advice, target Toronto and Vancouver. House prices and indebtedness are up across the country. Again, I would refer to the Bank of Canada's FSR for evidence of that.

Finance committee  Sorry, was there a question, sir?

Finance committee  Yes, I do.

Finance committee  I'm even more convinced now than when we advised the minister without seeing the impact and only predicting it.

Finance committee  Which new rules?

Finance committee  There are no rules that have been promulgated. One of the questions in the consultations is to understand the impact on rural Canadians so that the policy would account for that. So, no, I would not make that prediction.

Finance committee  It's not at all about slowing particular markets, nor, frankly, is it about directly removing first-time homebuyers from the market. It's making sure that people.... Because the government's involved in this marketplace, first do no harm, and then make sure you're not making matters worse.

Finance committee  The short answer to your question is that it's not enough. Of course I'm going to sit here and tell you that we're doing things, and we are. We've been working on our own to address the share of foreign ownership in condo units, where we can get those data; the turnover rate in rental markets, and we can get those data; and the price in square foot data for newly built condominiums in centres of more than 50,000 people.

Finance committee  That's correct.

Finance committee  I haven't seen that data.