Human Resources committee  I can't speak to that specifically, but I think it's important we remember that in the rental housing market about 40% of the overall market is owned by the REITs and 60% is owned by smaller companies and individual investors. Real estate income trusts can play a significant role, but they only really have an impact, I would say, in an undersupplied market or a market where there's really tight supply and very low vacancy.

Human Resources committee  Is it possible to reduce with—

Human Resources committee  Yes.

Human Resources committee  Housing first.

Human Resources committee  Yes.

Human Resources committee  I would recommend, and have been recommending, to the government a housing-focused encampment response or a housing-focused approach. I think that can be very effective in reducing encampments as we experience them today. I do think this program has a lot of potential if it can be implemented quickly.

Human Resources committee  I think co-operative housing is an essential element. The program is a very smart investment that will continue to reap benefits for decades into the future. I'm strongly supportive of it. It's a form of attainable home ownership. I would say it's a very good idea.

Human Resources committee  I'd have to remember what all of them were, but to your specific point about acquisition, I think the idea of acquisition and preservation of existing stock is really important. If you're in a hole, as they say in English, you've got to stop digging. I think that's really important.

Human Resources committee  Thank you for your comment. I'm thrilled to be back. Honestly, I think the Parliamentary Budget Officer's report was actually quite flawed. Reaching Home is a program and, by itself, won't solve homelessness. You could add lots of money to Reaching Home and you likely wouldn't solve homelessness unless you solved the housing crisis.

Human Resources committee  Yes.

Human Resources committee  In full disclosure, we will be receiving some funding from that program to support communities in ending homelessness for veterans. I was also involved with the unanimous House of Commons motion in 2019 calling for the federal government to eliminate homelessness for veterans and create a program.

Human Resources committee  I don't know how they spent the money, so I'm not entirely sure how I can answer the question.

Human Resources committee  I think it's fair to say this is among the most challenging rental housing environments that I've seen, yes.

Human Resources committee  You'd have to ask the development community that. In fact, my colleague, Steve Pomeroy, might be better positioned to answer that question than I am.

Human Resources committee  It would be the cost of living crisis compounded by the housing crisis. It's created by the housing crisis, and it's been compounded by the cost of living crisis, yes.