You're right. It is delicate because it's something that has come under debate, but as you say, something needs to be done.
Mr. Poloz is obviously gone, but I'll just read into the record comments he made a few months ago relating to household risk:
The biggest risk we face in the financial system is that household debt is not able to cope with a more normal level of interest rates.
...If people can afford [a mortgage] today but can't afford it 100 basis points from now, then we're not doing them any favours.
I know you didn't want to get into the stress test side of things, but you did say that something needs to be done. The economists that I read and the economists that most Canadians look to, to provide an analysis of where we are, have worried in the past about the potential for a housing bubble and where household debt is. I think something such as a mortgage stress test is a prudent move.
On the debt-to-GDP ratio that you talked about, where is Canada compared to other industrialized countries in that regard?