Thank you, Mr. Speaker. Mr. Speaker, since the election period last fall, I have heard multiple concerns from constituents in my riding with respect to the upkeep of rental units. The recent Northern Housing Report 2023 released by CMHC provides an analysis on market housing in Yellowknife. Rental rates have gone up and 28 percent of families in the city are unable to afford secure, affordable, rental housing.
Mr. Speaker, 18.2 percent of renters in Yellowknife are in core housing need. This means that they are living in units that are unaffordable, unsuitable, or inadequate. I have seen firsthand and heard from residents that there are many issues with some rental buildings here in the capital. Buildings are not being adequately repaired or renovated and, in some cases, have pest and mold problems and, sadly, far too often residents feel unsafe and insecure. Tenants do not feel like they can hold landlords to higher standards without repercussions and that the process to hold landlords to higher maintenance and repair standards is too difficult and onerous on tenants.
Mr. Speaker, Northview owns the majority of rental space in Yellowknife. Northview grew into a real estate investment trust called Northern Property REIT in 2002 and eventually into Northview Apartment REIT in 2015. Mr. Speaker, Northview Apartment REIT is a publiclytraded company. REITs control a large part of the rental housing market across the country, and this is here in Yellowknife as well. REITs put profits for their shareholders ahead of housing affordability and repair. The monopoly of socalled affordable rental stock has resulted in rent increases during a time where cost of living issues are dire and challenging for much of my riding. It's also contributed to reduced building maintenance service resulting in units with substandard repair and maintenance.
Mr. Speaker, I recognize that the GNWT is limited in what they can do to improve maintenance and repair standards in rental units but there may be better supports that could be in place for tenants. Mr. Speaker, I will have questions for the Minister of Justice at the appropriate time. Thank you.
Member from Great Slave. Members' statements. Member from Frame Lake.
