Thank you very much.
Thank you to all the witnesses for coming today. We really appreciate hearing your testimony. Thank you.
I'm going to pick on Mr. Beauchamp for a moment.
It's nice to see you again, sir. I want to direct a couple of questions to you, and then my colleague Mr. Regan will be taking the rest of my time.
We have such an accumulation of family net worth in residential real estate. I think we're at historic high levels at the moment. Your industry is now extremely important, for many reasons, in our economy. Can you address the issue of affordability for a minute? Mortgage rates have risen in the last few months, and so have resale home prices.
Are we getting an affordability crunch?