We've got a lot of supply-side issues. Definitely in our largest urban centres it's very difficult to bring new residential construction online. There are lots of delays, red tape and development taxes that are affecting affordability. There are a lot of factors affecting things and it's very inelastic, so in our largest cities—where we have a lot of immigration—it's very difficult to bring new construction online quickly enough to meet demand. You're seeing that in the house prices, especially in the GTA and the Lower Mainland in B.C.
