Thank you very much.
I will begin with you, Mr. Leduc.
Much is said about household debt and the mortgage debt component. I remember that in the previous Parliament, the government insisted that this was not very important, since the net worth of households was growing. At a certain point and for the first time, Canadian households were richer than American ones.
My position on this has always been that a large part of this household wealth was due to the value of homes, or the real estate equity. We can't really determine whether there are bubbles or not. We all have our own views on that. Most of the time, we know that there was a bubble on the day on which it starts to deflate, or has collapsed.
I would like to know whether household net worth is a parameter that can be considered or taken seriously. We worry about household debt. Can we be reassured by the net worth of households, or is that component of the value of homes a problem in itself?