Finance committee  Thank you. I think it's something that any number of researchers have been attempting to look at and are beginning to quantify. I think fundamentally we see the beginnings of this data in the Canadian housing statistics program. We've discovered that in certain markets, with cer

Finance committee  We're slowly moving into this process. We've discovered, for example, that the amount, again in the case of a specific measure, is that $75 billion of residential real estate in Vancouver is owned by individuals who don't actually live in Canada. Again, that begins that type of c

Finance committee  Fundamentally, it's about going into the inefficiencies of measuring unaffordability. You have to look at that, but if I put on another hat, some of this is really about expanding the idea that we also need to consider housing adequacy. Some of the leadership that's being done

Finance committee  Fundamentally there is another element of the deficit. There is a non-market housing deficit, which has not been paid off for almost 20 years and which we've only now slowly begun meeting, but nowhere at the pace at which that needs to happen. That is really where direct invest

Finance committee  It's about enabling CMHC to expand its programming not only towards construction costs, but then also really in looking at the role of unit acquisition, of having the right for first purchase. There is the role in government to enter the realm of offering stable, affordable housi

Finance committee  That's a similar type of process where you enable, as well as empower, CMHC to allow for that type of development, for that redevelopment as well as long-term supports for developments like co-ops. You'll find that in False Creek South, there is a very active citizens group that

Finance committee  I think, fundamentally, you can see it in Vancouver. The speed of this type of increase in housing values—compared with local incomes—has been most acute in the city of Vancouver. Through certain policies at both the local and provincial levels, we've seen at least some staunchin

Finance committee  I think it is a policy that can be directed into particular markets. The issue of underused homes mixes in with the emergence of disruptive technologies and the role of property technologies, or prop-tech, whether short-term rentals through Airbnb to.... These platforms are disto

Finance committee  I think it goes directly to transparency, consumer protection and the role of the federal government to produce a level of leadership in terms of ensuring that Canadians are protected in the biggest purchase of their lives.

Finance committee  The examples that have occurred have very much occurred when multiple levels of government have worked together to produce affordable housing. This is where we can find the kind of history where the federal government worked together with the provincial and local governments. O

Finance committee  You'll see an exodus of talent. I think part of this is understanding that there is tremendous diversity within this population of young people. Within this type of consequence is the inability to actually start your career and grow it in Canada and the exodus into countries that

Finance committee  It has made a pre-existing condition worse. You have properties wherein, depending upon when they were built and what they are, upwards of 20% of certain stocks are owned by folks who don't live in Canada. That really has another distortive effect, which various policies at the p

Finance committee  That's precisely it, Mr. Chair. It's an issue that has a particular timeline and it started approximately 10 to 15 years ago. My existing research talks about how it has accelerated. It's fundamentally not only about foreign money, but how foreign capital has mixed in with local

Finance committee  Thank you so much, Mr. Chair. Good morning. Thank you for the opportunity to address the honourable members of the Standing Committee on Finance. I would like to acknowledge that I am speaking to you from the traditional, ancestral and unceded territories of the Squamish, Tslei