Thank you to our guests today.
First, I'd like to ask Mr. Richter about one of the issues I've been thinking about. You mentioned that we've dug a hole here as far as homelessness and affordable housing are concerned. I guess the question is, why is there the demand? Then, how can we provide that and yet take forward some of the market-based housing that I think are outcomes, such as pride of ownership, responsibility, financial stake, and that type of thing?
At a construction group we talked about how, as you said, governments could throw in the land, and maybe local governments could come up with the DCC costs and some of the...because 45% of the cost of a house is basically taxes and charges by government, believe it or not. As well, the other thing is interest charges, where government can come along and maybe say that they will have the capital available at no interest, and encourage that.
But ultimately, in my experience as a person who has been in the housing market, what I have found is that people who have a sense of ownership, who take pride in it and have a stake in taking care of it...because what kills you is the O and M after it's built and in place.
I guess what I'm saying is this. Can you see some sort of structure where you can provide that affordable housing to the homeless and yet still have some of those outcomes, so that you would be assured that the investment will be protected and that you will see a sunset on the need?