As I said, it's people in Toronto or Vancouver trying to buy more and more expensive houses. One of the reasons they've been able to run up these types of debt levels is because mortgage rates have been going down. They're now hitting historic lows, so your monthly payment is actually quite affordable for big leverage to get into large houses, or to get into small houses that cost a lot. One of the challenges for households that are entering the market, particularly for young households, is they're paying substantially more than their parents to get into the household, but they can still make the monthly payments at record-low mortgage rates. The real question is, when mortgage rates rise, how much pressure does that put on households and constrain consumer spending?
