Thank you very much indeed for the question.
The recommendation we're making regarding providing interest-free loans to municipalities actually ties into this, to a degree. I think a lot of measures have been implemented that are essentially trying to tamp down demand when the answer to the problem, in terms of Vancouver, is probably adding supply. The only way to make sure that you mitigate prices in just those two regions is to ensure that there are enough places to live for the number coming into the cities.
I understand that the cost is very high to put pipe in the ground to make some of the property that is earmarked as residential land through the city of Toronto. I think the city is probably trying to get some money to allow them to even begin that development. If there is a mechanism to help funding, that might offset that. Certainly those costs needs to be examined, though.
We spend a lot of time in discussion with the Canadian Home Builders' Association when we're considering our strategies around these things. Those costs are very high.