Thank you, Madam Chair. Just part of the executive, I guess, I'm just -- I want to just chat a little bit about housing, and we heard some of it today and, as you know, I still have -- you know, we still have problems in our communities. Have been for a while. You know, I sat on the AFN housing committee for a while, and I understand the need of trying -- at least meet the demands in housing throughout Canada, and it's growing every day. You know, homeownership repairs in the communities is growing. Repairs are important. New homes, public housing down the road. You know, we already know that in 2036 that CMHC are going to be looking at cutting back on CMHC dollars to housing corporation completely. That's only 13 years away. And so what's the plan? So while we're trying to figure out the housing corporation even by that time, we probably would already have settled claims in the Deh Cho and Akaitcho region and including the Metis. But at the end of the day, you know, the vision and mission statement of the housing corporation overall really needs to be looked at now and -- because we got to allow for change that, you know, housing is going to be looked at and delivered at the local level.
And it's already under agreements, you know. And so how -- what's Housing NWT going to look like in 13 years? You know, it's really interesting. But in the meantime on the interim basis, you know, we look to our colleagues and your neighbour in Nunavut, and my colleague Caitlin Cleveland talked about that as well, and they've been aggressively lobbying Ottawa for housing for their jurisdiction for quite some time. And they've been successful. And they did -- you know, I'm happy to hear that, you know, they're making real progress in a lot of these areas. And same thing with the Inuvialuit Regional Corporation. You know, they've been doing the same thing. You know, just to touch on housing overall, you know, like, to look at all the homes here in the Northwest Territories, just to catch up on new homes, you know, I'm just thinking outside the box here, whether it be 4,500 to 6,000 -- I mean homes, you know, given new construction costs given today is -- it's crazy. The prices just went up, you know. So just to catch up on homes today, you know, I'd be surprised that we're looking at about almost $3 billion just to catch up. Not including the homeownership repairs in the communities. You know, that alone, you know -- you know, repairs alone is $1.2 billion. And not the mention that the ongoing costs of new homes in the community. But we're still going to need public housing sometime down the road. And the thing is that we -- I guess what I'm trying to say is that maybe it's something that we should really think about now as a housing corporation that maybe we should have a -- I know that you're already saying that you're already working with the, you know, Indigenous governments and this and that. I understand that. But the reality is that we are going to have claims done by -- in 13 years when CMHC dollar happens. So we got to start thinking differently here. And, you know, sometimes whenever -- to me, whenever we make application to CIRNAC on our own and -- it just means that, you know -- you know, there's the trust and some barriers there that just is created when we do those kind of things. So I guess at the end of the day, I guess what I'm trying to say is that we may have to revisit our vision and mission statement of the housing corporation and how it's going to look in 13 years from now. And then what can we do now to improve that. You know, maybe by working together, we could do what Nunavut did. They were aggressive coming up with a housing plan for Nunavut to address, you know. Right now just what I mentioned, you know, we're talking about $4.8 billion. You know, I could be high, I don't know.
But the point is that, you know, we need to really start reaching out to settle claims and Indigenous governments as a new partner. Who knows? Maybe your structure that you already have here in your organization chart here, you know, there could be another organization there where we have -- you know, that we call the Circle of Leaders but not -- sometimes not everybody's there. Also we got to figure a way around this because housing is a problem. And right now, you know, I said it today that, you know, I'll be continuing to advocate for that. So anyways, I just wanted to share that with you because I'm just saying that, you know, at the end of the day we all got to work together. You know, we're -- you know, when we make a decision, we got to think seven generations ahead, you know. And housing's still going to be around. It's still going to be a problem. So anyways, I just wanted to make that comment in regards to the executive and the way they're thinking and then just how we could improve on that. Thank you, Madam Chair.