Thank you, Mr. Chair.
Thank you for being here today.
I come from a ways away from here. I was reminded of that on the weekend when I was at a community supper and a gentleman came up to me and asked if I could ask somebody about the mortgage stress test. He's a realtor, and from his perspective the mortgage stress test was applied as a cudgel to the Vancouver and Toronto markets. He said, “It's killing us out here. It's wrecking our economy. It's costing jobs. The construction industry is slowing down. The real estate market is slowing down. It's actually damaging our communities. Can you get somebody to give me an answer to that?”
I guess I have the opportunity this afternoon to ask you about the negative impacts of the mortgage stress test on local markets that aren't in the Vancouver and Toronto areas.