Caroline Desrochers

“Mr. Speaker, Canada’s housing market today looks a lot like a young man driving a road racer down an icy highway in the middle of winter. The engine roars, the tires grip and the driver thinks he is in control and so he presses harder on the gas. Imagine a souped-up, five-litre Mustang with more horsepower than common sense. The speed builds, but suddenly the tires lose traction. The steering becomes unstable, and the vehicle starts sliding. A smart driver would ease off carefully and regain control but, just like a reckless teenager, the Liberal government does not believe in restraint. It believes Ottawa can control markets better than Canadians themselves, and that arrogance is exactly what has driven Canada’s housing market into the ditch. First, the Liberals went full throttle on immigration and population growth without building the homes, infrastructure, roads, utilities or skilled labour force needed to support it. Canada added well over one million new residents in a single year, one of the fastest population growth rates in the developed world. The Liberal government drove demand through the roof while supply was trapped behind taxes, red tape, permitting delays and development charges, forcing prices to explode. Young families were suddenly bidding against impossible demand. Rents soared and house prices spiralled. Ordinary Canadians who worked hard and played by the rules found themselves locked out of home ownership altogether. The Liberals treated the housing market like a driver flooring a powerful car on black ice and then acted surprised when the whole thing started fishtailing. Then, after overheating the market, the Liberals pulled the emergency brake, cutting immigration and locking us in a dangerous skid. At the peak, they brought one million international students into the country and then abruptly, this year, came to a screeching halt of less than half. However, when a car is already sliding, hitting the brakes too hard does not restore control; it sends the whole vehicle spinning. Adding to that chaos, the Liberals’ so-called build Canada approach threw billions of dollars at the catastrophic crash site. Once again, the Liberals believed they could centrally plan the economy from the top down. They encouraged prefab factories and construction suppliers to tool up for enormous future projects that have not materialized. Billions were announced, bureaucracies expanded, but uncertainty exploded. Development costs climbed even higher. Builders were crushed between rising interest rates, government interference, expensive regulations and constantly changing rules. Instead of stabilizing housing, Liberal central planning created even greater instability. Now, we are seeing the devastating consequences. Across the Fraser Valley, we have warning lights flashing everywhere. Thind Properties, Maskeen Group, Brivia Group, Coromandel Properties, Square Nine Developments, 14 Property Group, Wade Development, and Everest Group are struggling with receiverships, insolvencies, foreclosures, creditor protection, stalled projects, laid-off workers and families left wondering whether the homes they paid for will ever even be built. This is what happens when government distorts markets long enough that confidence itself begins to collapse. Conservatives believe in a common-sense approach. We believe that the people who know how to build homes are builders, not politicians. We believe government should stop choking developments with taxes, delays, gatekeepers and ideological central planning. We believe in getting government out of the way so the private sector can do what it does best: build. Canadians do not need more politicians grabbing the steering wheel. They need a government with enough wisdom to finally let the country get back on track. Will the Liberal government admit that its housing policies are the reason Canadians cannot afford a home?”