Thank you, Mr. Chair
Thank you to the witnesses.
This is an important study. In fact, I believe this is the last meeting. We are addressing the research reports on the financialization of housing that were published by the Federal Housing Advocate, and we’re taking a serious look at the issue of financialization of the market, including corporate ownership of single-family homes, and the effects of real estate investment trusts on the rental housing market.
So we’re here to assess the impact of financialization on national housing strategy programs, as well as on the development of affordable housing—I’m talking about housing that doesn’t cost $1,500 a month for a studio—that will remain affordable over the long term.
My question is for Mr. Pomeroy.
The Federal Housing Advocate was quite clear in her 2021–2022 annual report. According to one of her recommendations to the government, “[t]he National Housing Strategy must target its programs to prevent the financialization of rental housing and ensure that its programs do not contribute to the financialization of housing.”
Do you agree with this important statement by the Federal Housing Advocate?