Thank you.
Mr. Chair, I'll start with Dr. August.
Dr. August, all levels of government use a kind of carrot-and-stick approach when it comes to legislation and policies when we try to incentivize areas that we're looking at to perform. In the housing sector, I would use our housing accelerator fund as an example of a carrot approach, as it relates to trying to incentivize municipalities to create new housing supply.
When I look at real estate investment trusts, one of the things I'm looking at is how the national housing strategy should or shouldn't apply to REITs. I've read a lot of your information as it relates to the impact that REITs have had on rising rents across the country. I would agree with a lot of the assessments you've provided. I guess my question would be how we incentivize REITs to help us with our supply issue. I think the private sector is a big part of helping us with the issue of supply.
How do we discourage them from participating in the national housing strategy and contributing to or getting at that issue you've raised as it relates to their impact on market rents? Can you help us with that in terms of recommendations and in terms of how we should treat REITs with financial assistance through the national housing strategy with those two issues at play?