Ottawa, ON – In the last year, thanks to Justin Trudeau’s inflationary, interest rate hiking policies, mortgage delinquencies are up 50%. The number of delinquencies are even more stark in Ontario and British Columbia, where they are up 135% and 62% respectively.
This is the legacy of Justin Trudeau’s failed economic leadership. Massive deficit spending raised inflation, which led to interest rate hikes, which have led to the stark increases to mortgage delinquencies Canadians are now facing.
The Liberal failure to build homes has already led to a housing hell where mortgages, rents, and down payments have all doubled. Polls now show that 55% of Canadians who do not own a home are pessimistic about their chances of buying a home or have given up entirely. Now even Canadians who already owned a home may not be able to keep it.
Canadians deserve to hear from the Liberal government about why they are continuing to destroy the dream of home ownership in Canada. That is why Conservatives passed a motion today to summon the Liberal Deputy Prime Minister and Minister of Finance, Chrystia Freeland, to answer on Liberal failures at committee.
Minister Freeland must explain to Canadians why she and the Liberal government continue to double down on their policies that caused this crisis and are leading to families losing their homes.