We could talk all afternoon about it, but let me just pick up on a couple of points.
First of all, those are the right numbers. In fact, there was another study done, if you don't want to believe the Home Builders. There was an independent study done recently that looked at the costs of regulation for new homes. In Vancouver, the regulatory costs amounted to an average of $600,000 added to the price of a new home. In Toronto, it was $160,000. There's no question that these regulatory costs, whether it's red tape, whether it's charges....
For example, until I read this study and spoke to the author, I didn't realize that one of the things municipalities will do with developers is ask them to pay the full cost up front for infrastructure charges when in fact no municipalities or other governments do that themselves; they amortize it over a certain number of years. Asking a developer to incur the full cost of those charges leaves that company with one choice, which is to pass on those costs to the consumer. That's why the price of homes is so high, and that leads to a lower supply of new homes.