I wonder if you could continue explaining to me. It mentions “a key source”, but it mentions no other key sources.
I live in the Fraser Valley, and we know that government here adds hundreds of thousands of dollars to the costs of new homes by way of zoning regulations, development charges and housing limits. We know here in the Fraser Valley.... I think the C.D. Howe Institute did a study, and they said it adds $644,000 to the cost of a home. I was thinking about Mr. Kershaw's comment that we should be taxing million-dollar homes because those are crazy-valuable homes hiding wealth. Actually, if you take that $644,000 worth of government regulations off, it's a $350,000 home.
When you mentioned “key sources”, would you agree that government red tape is a massive problem that's causing a rise in housing prices, besides, as you say, monetary policy?