Thank you for the question.
In terms of the Canadian Home Builders' Association, we principally build market-rate housing. The job of our association and our members is to make sure that market-rate housing is available, and we do what we can to make sure that it is affordable for middle-income families.
In terms of affordable social housing, our members do get engaged with that as well, typically with not-for-profit partners that are focused on this. They'll partner in a variety of ways to help make this happen. There are certainly ways to lower the cost of housing through finishes and that sort of thing, but, in general, the cost to build housing is the cost to build housing. I would suggest that social housing, affordable housing, is a societal problem. I think it's really important that we not expect developers to pay for that kind of thing, because developers don't pay for that; it just becomes the buyers of other houses who end up subsidizing the costs of social housing.
When we look to solutions, I think it's really important. Let's take the example of inclusionary zoning. Inclusionary zoning is very popular with municipalities right now, where they are going to require developers to have a certain number of units be below market rate and be affordable. That can only be done if some sort of public subsidy is provided, because if it's not, then the existing units and the units that are going to be built for market rate become more expensive because they're paying for those.
I think there are some very good public policy measures that can be taken. For example, providing subsidies on land, reducing development taxes and those types of things can make the cost of those affordable units less expensive. I don't think we can require people who are trying to make a living building housing or the people who are trying to get into their first home be the ones who have to subsidize social housing.