Thank you, Mr. Chair.
I would also like to thank the interpreters for their exemplary work.
Mr. Pomeroy, in a 2019 study, your group of researchers indicated that the loss of affordable housing was explained by two factors. The first is the demolition of old units that are replaced by new ones. The second is the buyout of these units by financialized real estate companies who decide to raise rents to maximize the return on their investment.
With respect to units purchased by these speculators, what is that dynamic’s effect on the rest of the rental market?