Thanks, Mr. Chairman.
Thank you to the witnesses for you attendance today and for the information you are providing.
I'll start with you, Mr. Pomeroy. Welcome, sir. Building new can be quite expensive. We've had certain witnesses come in to talk about retrofits and buying existing stock. It's cheaper and renovations can happen more quickly than new builds. The Parkdale Neighbourhood Land Trust was in front of us recommending an acquisition stream. It's really along the same theme that you adopted earlier in terms of a targeted approach.
Mr. Chair, if you remember, at the last meeting I talked about how it's not just about creating supply; it's about creating affordable supply.
I'd like to hear your comments about an acquisition stream, how that might help with either retaining affordable units that are in competition with the private sector or up for grabs for REITs and others, and how that might assist with a targeted approach to assist with our goal and objective of providing affordable housing.