Thank you, Mr. Chair.
Thank you, Ms. Houle, for being here today. We are studying a really important issue.
Interestingly enough, before the federal government stopped investing in housing in 1993, the financialization of housing did not exist. This phenomenon was not observed in Quebec or in Canada. I read a study about what ensued, but I do not remember the date of the study because there are many studies on housing. According to the study, in 1996, 0% of housing stock in Canada belonged to large national and international groups, whereas in 2021, 22% did.
So there's an issue. There appears to be a correlation between the federal government's disengagement from housing and the sudden involvement of large corporations in this matter. We also know that the draw for these people is not the right to housing, but rather greed.
There is the national housing strategy. Are there many programs that you think are not as effective as they should be? The National Housing Council produced a study indicating that we had built only 115,000 housing units since the strategy was launched, but had lost 550,000 units of affordable housing over that same period. That means the strategy is not working.
Let's just talk about financialization. What programs do you think are ultimately not helping us get out of this financialization? Programs include the co‑investment fund, the housing accelerator fund and other federal programs. In the five years since the strategy was launched, it has clearly not stopped this phenomenon.
So, to help us, what programs should be cut?