I mentioned the fact that we have four million rental units. Two million are old units built in the 1960s and 1970s. Two million are new condos that are owned by private individuals and rented out. I really believe that purpose-built rentals provide security of tenure and are the most appropriate form of housing for the 30% of Canadians who are renters.
I really appreciate the condos as rental stock, but given that we're a growing population and that we welcome newcomers who are initially renters, I feel that there is a need to expand the stock. There hasn't been a significant expansion since the 1970s. There's been some uptick in recent years, but I think we need to continue with investments in this area.