Finance committee  Thank you very much for the question. I have to start by saying that I'm not a tax expert and that it's not the kind of analysis that we do at CMHC, but just as a general statement, I think it's important to look at all avenues to increase the attractiveness to investors and bui

Finance committee  Whether increasing taxes would...?

Finance committee  No. I think the opposite would be the case.

Finance committee  As an economist, that would be my answer, yes.

Finance committee  Thank you very much for the question. Absolutely: I don't think the government can do it alone. It's too monumental a task. The private sector has to be involved. That explains my position on financialization. I think we have to find ways to incent money to flow into the housing

Finance committee  Thank you very much for the question. I can confirm that we have a low level for that housing stock. Social housing makes up, I think, about 4% of the housing stock in Canada, which is well below OECD averages. I would completely agree that there's a need to build more social ho

Finance committee  It's a great question. I don't work in the mortgage insurance area. I know they do stress testing of these kinds of things in order to assess our capital levels and I can try to get back with a more precise answer, but I share the concern that in an environment of rising interest

Finance committee  I'll make a note of it.

Finance committee  That's a great question about where we are in the cycle right now. We're in an environment where interest rates have come up, of course, and that's been dampening housing demand, especially home ownership demand. In the past year or so, obviously, since interest rates have come

Finance committee  That's a great question. I have to believe that we will eventually, with all the efforts that are being made, but it's going to be a challenge, and I think it will be really big challenge to build the three and a half million units by 2030. I think I've said that. I don't know,

Finance committee  I can start. I'm Bob Dugan from CMHC. You bring up some concerns that we share and things that we monitor very closely, in particular with respect to household debt. We keep an eye on that because Canadian households do have a very high level of debt compared to those in many

Finance committee  Yes.

Finance committee  Thank you very much for the question. I was just about to get there. With the interest rates, the Bank of Canada has tightened from about a quarter of a per cent as of March 2022. They've now tightened up to 5% in terms of their policy rates, with the risk that those could go hi

Finance committee  It's certainly a risk. A lot of these households are going to have to dedicate more of their income to paying those debt service costs. I've been answering this, so I don't know if the Department of Finance wants to weigh in with anything on that.

Finance committee  I believe we were talking about that a bit earlier in terms of the recent numbers and what that does to our projection of supply gaps between now and 2030. Time permitting, I think what we committed to do is to try to see if we could come up with an estimate of how that might c