Hopefully, what that does is stop the erosion of affordability and lead to an improvement, and not just in home prices. I like to emphasize that we care about rental markets as well.
We often talk about home prices as a big driver of the erosion of affordability, but what concerns me more is the rental market. Home ownership is more of a choice. When you have a higher income, you can make that move from rental to home ownership. However, for folks in the rental market who are there because their income is low, where do they turn when they can't afford the housing they're getting?
To me, the bigger concern—the one that keeps me up at night—is the deterioration of affordability in the rental market, because we're talking about lower-income Canadians who need more help.