Human Resources committee  A recent study on co-operative housing found that rents for equivalent-sized homes in equivalent neighbourhoods were 20% lower after 20 years in co-op housing and about a third lower after 30 years. I think the same would be true of any form of non-market housing simply because the rents are based on cost and not on profit.

Human Resources committee  Do you want my opinions on that, Ms. Falk?

Human Resources committee  I think that development charges are really problematic, as is the whole notion of “growth pays for growth”. Any form of development charge is going to penalize newcomers or people who are searching for new, purpose-built rental or housing at the expense of many people, including me, who would benefit from those services but aren't in the need of a new home.

Human Resources committee  I would assume that it has a negative impact.

Human Resources committee  Well, there were two misses and a hit in the early 1970s. One of them was the end of tax incentives for purpose-built rentals. That's been addressed in the current budget. It took 50 years. However, part of the reason why developers moved from purpose-built rentals to condominiums is the second problem, which was the creation of a capital gains tax with the principal property exemption.

Human Resources committee  I would say that investment in non-market, low-income housing went up in the 1970s. It started to go down in the 1980s and continued its downward slide after the federal government got out of housing policy in the early 1990s. I don't think it was associated with a particular party—either the good things or the bad things.

Human Resources committee  Thank you.

Human Resources committee  I'm sorry. Thank you.

Human Resources committee  Absolutely.

Human Resources committee  Thank you, Mr. Chair, and thank you for the opportunity to appear today. As someone who is trained as a historian, it's a particular pleasure to uncover with you the roots of Canada's current housing crisis. The housing supply record from 2006 to 2015 was dire and set the stage for today's housing crisis.