Thank you, Mr. Chair.
I'm going to ask Mr. Pomeroy my questions first.
You made some disturbing comments earlier about not having data and the lack of access to data, and I think that's part of the reason we're here today. It's that there was information in silos that was not laid over or between those silos.
In a report that you did in 2019, you highlighted the fact that purpose-built rentals at that time accounted for only “40 percent of all rentals”, with “investor-owned condominiums” becoming more pronounced and making up more than a quarter of all starts in the major markets.
Mr. Pomeroy, do you think there are current federal policies encouraging the development of unaffordable housing? What I mean by that is, is the market lens, the market housing, fixing this problem?