Thank you for the question.
I think this is something we need to keep an eye on when we're talking about this. This is where people live. This is the stability and foundation of their lives. We're talking about their homes.
The number of people being displaced through the rental market is extraordinary. A report came out from the University of British Columbia a couple of months ago showing that, across the country, about 65% of all evictions were so-called no-fault evictions—people who paid their rent, were good neighbours and didn't disturb the other neighbours in the building. They were getting evicted from their property. There are definitely cases where people are being removed from their homes so the landlord or owner can invest in the property and renovate. There are also cases where people are doing renovations so they can remove the tenants and increase the rent.
Make no mistake. Rents are set based on what the market will bear. It's not a set percentage above landlord costs. If the landlord can get a higher rent, they will. That's business and completely fair. What I'm saying is that we need to balance this with a healthy supply of community and non-profit housing for people who are vulnerable in that type of marketplace.