The Commons human resources committee was informed that the average profit margin for Canadian landlords is 8 percent. During the meeting on July 13, participants had difficulty reaching a consensus on how to increase the national housing inventory. John Dickie, president of the Canadian Federation of Apartment Associations, stated that this reality may surprise some, as many people assume that most of the rent money goes directly into the landlord’s pocket. However, Dickie explained that landlord operating costs amount to 19 percent of rental revenues, with property tax being paid by 14 percent of landlords and tenant utilities covered by 12 percent. After deducting these expenses, only 8 cents out of every dollar of rent remains as pre-tax return on each dollar of revenue. The committee is currently investigating the “financialization” of the housing sector, which refers to the growing presence of the market and financial sector in Canada’s economy. Despite the need to increase the housing supply, it is important to also provide non-market and community housing in order to address the housing crisis. There were discussions about the right mix of housing and the need to double the proportion of non-profit housing. Taxes and development charges were cited as factors contributing to the high cost of constructing new housing units in most cities. Michael Brooks, CEO of the Real Property Association of Canada, highlighted the challenges of achieving housing affordability in the country, including the need for 3.5 million additional housing units by 2030. However, it can take up to five years for housing projects to be approved in many Canadian cities, making it difficult to meet this target. The Canada Mortgage and Housing Corporation (CMHC) reported a current average of 200,000 housing starts per year, which is well below the demand. CMHC emphasized the significant task ahead in restoring affordability in the housing market.