As you note, within the definitions of Bill C-20, there is not a definition of affordability. The idea here was to maintain flexibility.
As we look out, thinking about the statute in perpetuity, as market conditions change, as funding changes and as partnerships change, we want to make sure that, as we think about affordability and about definitions, we're maintaining definitions that can be adjusted. The idea is that, operationally, Build Canada Homes will establish—and has established, as part of its investment policy framework, which was published online—an indication of how it will be defining affordability for the purposes of its investments. In this case, housing is considered affordable when it is less than 30% of before-tax household income. The idea is that this needs to be considered from a regional perspective. Across Canada, affordability is going to look different. It will look different, as well, depending on different income bands. Build Canada Homes has operationally been using that definition of affordability as part of its investment decision-making.
