If you had lunch with Bank of Canada Governor Stephen Poloz, what message would you want to deliver? What is it that you think he needs to know as he does his work overseeing the Canadian economy? What would you say?

CREB^® Chief Economist Ann-Marie Lurie and I have been invited to have lunch with Mr. Poloz late in November, and we are ready to give him our insights into current housing market challenges.

Keeping an ear to the ground is a key part of his job. As you may know, the Bank of Canada organizes extensive surveys and consultations, with real estate representing one of many sectors Mr. Poloz would meet with in any given week.

According to the Bank of Canada Act, the role of our central bank is "to promote the economic and financial welfare of Canada". CREB^® members know first-hand the local impact of monetary policy and efforts to protect our financial systems, but how do you feel about rumours that the Bank of Canada is considering raising interest rates?

We acknowledge there are many different pressures and influences on the Bank of Canada, but it’s important that we make the case for a healthier real estate environment. As we continue to make the case that the long list of changes in mortgage rules have had a very negative impact on our market, we will discuss:

• A July 2018 report by Mortgage Professionals Canada that estimates about 100,000 Canadians (18 per cent of the national market) have been prevented from buying their preferred home due to new federal mortgage rules; and
• Research CREA released earlier this year, which showed how home sales boost the Canadian economy with $64,000 in spin-off spending resulting in one job for every three home transactions.

We know what content we need to cover, but we want to ensure we capture the voice of our members.

So, what question or message would you like to make sure we deliver at lunch? Leave your comments below or send me an email to share your thoughts.