Thank you, Mr. Chair.
Minister, thank you for being here today.
Since the beginning of our study, we have heard from witnesses who have provided valuable input on the new program.
We want to better understand the issue of affordable housing. In one recommendation we received, the witness indicated that simply increasing the supply of housing did not automatically translate into more housing that was affordable, let alone rental housing that was affordable.
It is therefore paramount that all levels of government work primarily towards the construction and renovation of affordable rental housing. Demand for affordable rental housing is greater than demand for regular housing, a market that tends to sort itself out. Tenant households are three times more likely than owner households to be in core housing need. The housing issues in Quebec and Canada have a much greater impact on the rental market than the housing market.
Another witness even told the committee that the housing accelerator fund was not the right program to address the issue of affordable housing, because the program does more to deal with supply than demand. The demand is for affordable rental housing units, so 30% of the funding is not enough.
We are studying the options. We are talking about a $4‑billion program over five years, after all. Taking steps solely to address supply will do little, if anything, to change demand for affordable housing. What can we do, then, to really address demand?