Jenny speaks on RCFI and financialization of housing

House of Commons Debate
Financial Statement of Minister of Finance
The Budget
Government Orders
April 27th, 2022 / 5:05 p.m.


Jenny Kwan (NDP) Vancouver East, BC

Mr. Speaker, in his speech, the member actually raised the issue of housing.

"As we know, Canada is faced with a housing crisis from coast to coast to coast. In the budget, there are some measures related to it. One of the pieces that I am happy to see is the change with the RCFI initiative: Instead of ensuring that the rent is going to be above-market, which is what it was with the Liberal government's approach, in our agreement we were able to negotiate to get the government to ensure that the rent is below-market.

With that being said, one key issue to address the housing crisis is the financialization of housing. Would the member support the NDP's call for the government to put a moratorium on REITs? That would make a difference in the cost of housing."

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