Finance committee  Yes.

Finance committee  I suppose, as I said to your honourable colleague, that I'll never be satisfied; that's my job. I think you rely on us at CMHC to make sure—in fact, this is in our legislative mandate—that we promote financial stability and access to housing. It's a balancing act. I don't know

Finance committee  First of all, I apologize if I come across as arrogant. That's not at all my intention. We have people working in all provinces of this country, including Alberta, and we listen to our colleagues in all of the entities and to all of the stakeholders who testified to you. Some o

Finance committee  I haven't seen that data.

Finance committee  I've seen the testimony.

Finance committee  I can't distinguish between an opinion and facts, so I haven't seen the data.

Finance committee  With respect, I disagree. Our housing market assessment is based on models that are based on historical data, and our stress test is based on projections of our own insurance outlook. Those are data. Those are not opinions.

Finance committee  I'm sorry for your disappointment. It's my job to be impartial. I don't represent a particular sector. I represent the Government of Canada and CMHC. Those people have people they represent, and I would suggest that you may want to take that into account.

Finance committee  Their businesses have dried up because the government was involved in a market in providing stimulus, and the Minister of Finance decided to remove some of that stimulus. It's like you're at a party, and the party has got too strong and you remove the punch bowl.

Finance committee  Yes, the Canadian state, the Canadian government, provides very substantial support in the housing market. I suspect it's close to, if not at the world peak in several programs. First of all, mortgage loan insurance is about $1 trillion of government guarantees. The homebuyers' p

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 matt

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 r

Finance committee  That's correct.

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 f

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.