Thank you.
Of course, indebtedness is important and we have to review what it is, but a big makeup of that ratio is not mortgage debt. It's credit card debt and car loans, and those are areas that we're probably not going to get into here.
Right now, the requirements for our clients to get approved are strict. We have to go through them and we have to verify a lot of things. Car loans aren't the same and credit cards aren't the same, and unfortunately that's where most Canadians are running into trouble.
To me, there is good debt and bad debt. Buying a home is something that even if it doesn't go up, you're slowly going to pay down the debt. The likelihood of it going down in value is slim, whereas those other things aren't adding any assets to their bottom line.