Thank you, Mr. Chair.
Welcome, everyone.
I'll start off with Mr. Morrison. I'm happy to report that in my riding of Vaughan—Woodbridge, which is within York region, we are actually getting an affordable housing project. There are two or three happening in York region, one of them in my riding, for 162 units. The scary thing, though, is that the wait time for affordable housing in York region is seven years for seniors and 12 years for families. Rest assured that our government is working hard to develop an affordable housing strategy with the provinces and with the municipalities, led by Minister Duclos.
I'll leave it at that, because I have a few other comments to make.
Mr. Hogue, you're an RBC economist. In December, just before Christmastime, you were on TV. You commented on the lack of the supply of housing in the GTA and how that was impacting prices. In 30 seconds, please, with regard to the price increases we're seeing, what portion is due to the lack of the supply of housing? I believe it's at historical lows for detached, and for condos it isn't that robust either.