Thank you for the question.
First, I must say that your first comment regarding debt ratios is very relevant. We know that household debt has increased substantially in recent years. The ratio currently sits at about 170%. We must certainly bear in mind the value of assets as compared to debt level. The value of these assets has increased, however, which reassures our groups of economists overall. That is also reflected in our economic studies.
The issue is instead the risk of loss of value. If the assets acquired drop in value, this could cause some vulnerability. Right now, we consider the ratio to be acceptable.
With regard to the measures that have been announced and implemented, I would say that there are in fact practical impacts on the real estate market, specifically on the Quebec market, which affects the Mouvement Desjardins. Since these measures were just announced on October 3, we cannot yet provide details or know exactly what the impact will be. I would say, however, that there will be a substantial impact, that is, a substantial decrease in mortgages. To your colleague's point, this could further limit access to ownership. The government will no doubt have to take measures to offset this in order to make it easier for people to purchase a home.