On April 27, 2021, MP Jenny Kwan spoke about the rapid increase in housing prices in Canada:
"Mr. Speaker, the housing parliamentary secretary admitted that Canada is “a very safe market for foreign investment but...not a great market for Canadians looking for choices around housing”. He also said that Canada's housing market is “driven by speculation”.
The cost of housing in Canada has increased by 31% over the last year alone. This 1% vacant homes tax for non-Canadians living outside of Canada is not going to cut it. Will the government increase this tax, bring in a foreign buyers tax, and put in new money for the construction of social housing for those in core need?"