I would say that the rise in the cost of housing is often a result of flipping. Speculation means that we end up with housing that is more expensive for landlords, who pass the bill on to tenants.
Some housing is referred to as “non-market”, as in the case of co‑operatives. That housing is here for good, so there are no resales, and it is the historic cost of construction that applies. Renovations have to be done occasionally, of course, but there is no speculation.
Earlier, I heard Ms. Tessier say that co‑operative housing actually produces diverse communities. They are not communities solely for low-income people, as we might think. Yes, there are low-income people, but the aim is to have diversity. That also applies to housing provided by NPOs, not-for-profit organizations.
We therefore need to have non-market housing. I want to note that Canada has had a very weak track record in this regard for years. Barely 5% of Canada's housing stock is non-market, while in countries like France and the United Kingdom, non-market housing accounts for 14% or 16%, not to mention Sweden, where it is 40%.
However, I do want to point out that housing is also a right and should be accessible to everyone. Non-market housing is the best way to achieve this.