Well, there were two misses and a hit in the early 1970s. One of them was the end of tax incentives for purpose-built rentals. That's been addressed in the current budget. It took 50 years.
However, part of the reason why developers moved from purpose-built rentals to condominiums is the second problem, which was the creation of a capital gains tax with the principal property exemption. This promoted—it made sense in the early 1970s—housing as an investment rather than housing as a place to live.
A third thing that happened in the 1970s—absolutely, Mr. Aitchison—was a big expansion of co-operative and community housing.