I live in a modest, post-war home. It was one of the dozens, hundreds, thousands that were built in New Westminster after the Second World War. At the time, I took out a modest mortgage. Now, today, when I look at my son, my nieces, my nephew, there is absolutely no way they could ever afford that—a modest bungalow. The housing prices in the Lower Mainland have reached that stage where there is simply no way for an individual on a regular income to ever anticipate having a family home, potentially a condo apartment, but in terms of a single-family home, it's impossible.
I'm wondering, when you talk about the higher rate of the 18% of those who are over-indebted, is it not also a generational thing? What we see is younger Canadians who have to take on phenomenal debt loads if they hope to have a family home. Older Canadians, generally, with a lot of exceptions, are doing better because the value of their homes or their investments have risen over the past few decades.