Discussion · Government Orders
Adam Chambers Conservative
“The government is backing too many loans for rental apartments instead of helping people buy homes. Too many apartments are being built right now. If these projects fail, taxpayers will have to pay for them.”
“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.”
Official Hansard
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.