Parliament must “require home prices to stall” since inflation mainly benefits longtime homeowners over 55, a CMHC-sponsored group wrote MPs. The Prime Minister last Wednesday said “house pricing cannot continue to go up” but stopped short of advocating price controls.

“We can no longer tolerate the gap between home prices and local earnings growing any larger,” a University of British Columbia group Generation Squeeze wrote in a submission to the Commons finance committee. “Federal housing policy must be recalibrated to advance the goal of ensuring home prices stall so that earnings can catch up.”