Thank you, Mr. Chair.
Earlier in today's testimony we heard a member opposite say that we are experiencing “a healthy housing market” in Canada.
We found out last week that the national housing data just released by the Canadian Real Estate Association shows that home prices are now up 29% from last year, which is the the fastest pace of increases on record. Once again, housing price inflation is widespread. In Toronto, home prices are up 36%. Montreal is up 20%. Vancouver is up 21%. Calgary is up 16% and Ottawa is up 16%. These are just some of the major municipalities that have seen this.
First of all, let's go to Professor Dehejia, please.
Does Canada have a healthy housing market, in your view?