I just want to take a moment to express concern at the way in which financialization has been described by the CMHC today. I think for folks who are concerned about turning housing into an asset class first and foremost, as opposed to shelter that all folks in Canada should have a right to.... Examples of financialization that I think are particularly nefarious have to do with large companies or trusts purchasing buildings where there are already affordable units, renovating those suites and evicting tenants who depend on those buildings to provide affordable rent. The companies are doing that for the sake of shareholder profit. We can't meet the needs of housing in Canada if we accept that as a model.
I do think that we need more private investment, but it has to take certain forms. I think financialization is often used to describe that morphing of housing from shelter to asset class. I think this speaks a little bit to what Mr. Woodcock was going to start to speak to. I'm happy to give him the floor briefly to go back to what he was going to talk about at the end of my last segment with whatever time I have remaining, Mr. Chair.