The homebuyers' plan has been a huge success in enabling people to buy a home. Originally when the plan was implemented in 1992, it was open to all homebuyers, and then later it was limited to first-time homebuyers.
The great thing, of course, is that every home sale involves spinoff spending as well. Based on data from 2006 to 2008, each sale generated an average of $46,400 in spinoff spending over three years after the transaction. Also, based on data over that period, more than 200,000 jobs annually were created as a result. The homebuyers' plan is a huge economic benefit as well as a benefit to homebuyers.
Since the plan was implemented, I believe that over half a million homes have been purchased through the homebuyers' plan. Opening it up to all buyers would keep it consistent with what was originally an economic stimulus package in 1992. Activity is anticipated to fall off in the second half of 2010. Just to put that in context, with the implementation of the HST come Canada Day in 2010, one of the elements of consumer confidence.... Consumer confidence has rebounded quite strongly, but one of the elements of consumer confidence is whether families feel their household budget will be better off in six months' time.
Once it becomes clear in British Columbia and in Ontario when the HST comes in about how much more people will be paying for things, one of the things that can help offset that hit on consumer confidence would be the question about whether now is a good time to make a--