Yes. Canada is among countries—the other country I work in is Norway, and there are other examples around the world at the moment—where the house prices have continued to rise quite steeply through the pandemic.
What we're facing here is this classic situation in which, in order to help the economy, the interest rates have been reduced. This further fuels the already fairly strong increases you had in prices before the crisis. Overall, household incomes have been supported, so the demand for housing has continued.
As I mentioned, among our solutions to this, our long-term calls are often for efforts to try to increase the supply of housing. One move there could be to try to look at building and planning regulations to see if there are ways of allowing for more accommodation to be built that way.
One thing I would add is that we don't have much of this in our report because it's really not clear at the moment, but it's going to be very interesting to see what happens to the geography of housing demand in the next while. We know there's going to be some sort of permanent shift towards more teleworking. The scale of that and the nature of it will be quite interesting, and the impacts on the housing markets will be interesting.