Jay-Ann Gilfoy spoke at CMHC presents The Walrus Talks at Home: Housing, which took place on November 26, 2020. Hello, I’m Jay-Ann Gilfoy, CEO of Vancity Community Investment Bank. I’d like to start off by acknowledging that I’m speaking from the traditional and unceded territory of the Coast Salish people, represented by the Katzie, Kwantlen, Kwikwetlem, Qayqayt and Semiahmoo First Nations. They have been custodians of this land for thousands of years and I would like to pay respects to elders both past and present. Canada’s housing and affordability crisis is one of the most critical challenges facing our communities today. According to a newly published Toronto Foundation report, in Toronto nearly half of all renters spend more than 30% of their income on housing—that’s the point at which housing is considered unaffordable. At the height of the pandemic in April and May this year, up to 13% of renters were unable to pay their rent in full. It’s not just Toronto either—this problem is national in scope.