Yes, 100%. Mr. Ste-Marie is on the screen, and he touched on this in talking about how lifting the GST on purpose-built rentals creates an incentive for builders to choose to build purpose-built rentals rather condos.
Very close to your riding and my own, two weeks ago I was at a construction site just north of Yonge and Eglinton. There are 2,600 purpose-built rental homes being built right now in the Toronto area using our apartment loan financing initiative, to which we're adding $15 billion in the fall economic statement. The builders behind that project said to me that by lifting the GST, we have changed the math for them and made it more appealing for them to be building purpose-built rentals rather than condos. I think that is a very important element.
Looking ahead to the no doubt deeply informative conversations we'll be having about the fall economic statement, I would say that one of the measures that I think will immediately help Canadians is cracking down on short-term rentals on Airbnb in provinces and municipalities that require registration. I like that measure because I think we all agree that it is about supply, supply, supply. We need more homes built faster, but it would also be good to have more homes right away. Economists estimate that about 30,000 homes that are currently being used for short-term rental could immediately be turned over to Canadian families to live in long term.