As I indicated in my opening comments, we were supportive of the fairly extensive changes that you referenced from 2008 onwards as strengthening the housing market. In fact, I think they have created a lot of positive dividends for the housing market.
As it relates to these most recent changes, it's the level of impact. These particular changes are impacting the competitive structure of the housing market, and when I say that, I mean the mortgage lending market.
When I first started in my role, the first-time homebuyer was at least in the 40% of new mortgages, with some lenders as high as 50%. I think we would take the view that it has had the cumulative impact of reducing the first-time homebuyer, and this most recent change may have been a bridge too far.