This is a complex question, and it's hard to answer in one minute.
I would say the lack of housing supply together with the mismatch between the high demand for housing and the low supply creation abilities of the country have made existing housing stock a very valuable asset. In a market system like ours, when there is a supply shortage, it makes the price of existing assets much higher and more valuable. There's been a lot of profit motive for for-profit companies to purchase these units and renovate them. I think that's what has resulted in the loss of this housing stock.
I would like to note that from our perspective, the solution is to expand housing stock in general. I feel that unless you do that, you're not going to stop the erosion of the deeply affordable housing stock.