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Adam Chambers

Replying to Kevin Lamoureux (Liberal)
“Mr. Speaker, CMHC actually does an incredible job at enabling people to own a home. I suspect that many members of the House would not have had their opportunity at one point in time if it were not for CMHC. The increase to $1 trillion is something that is necessary. I do not know the actual number, but I suspect 50% of that allocation is already there in terms of being secure. Stephen Harper increased it by a couple of hundred billion dollars. I am wondering if the member would agree that it is good for the housing industry as a whole to enable CMHC to provide housing for Canadians and support that.”

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Mr. Speaker, the challenge I have is that most, if not the vast majority, of the increase of the liabilities of CPP that the government is now backstopping are related solely to the apartment sector. I think it is clear where the government’s priorities are. It is preferencing apartment building rentals, in terms of increasing supply, at the expense of other forms of home ownership, and that is the risk I would like to highlight. Frankly, when the sector is being overbuilt, as it is now, this actually increases the risk to taxpayers, who may be on the hook if some of these projects cannot be completed.