There's been a decrease for sure.
I think the latest CMHC report speculated that, as an industry, we need to build 3.5 million more homes than what the industry has the capacity to build. Again, going back to the capacity of the industry, we don't have the people to build it—end of story.
The cost of building has gone up. Will the cost of construction ever come down? It probably won't because it would mean going back to our employees in every sector and asking if they could take a dollar per hour decrease in pay or a two dollar per hour decrease, whatever the case may be. We know that's not going to happen. Is the cost of lumber going to go down? Well, it will fluctuate a little bit. Commodities fluctuate on a daily basis.
Going back to supply and demand and looking at interest rates and stuff, we see that the cost of borrowing money and doing business is greater every day, and it has that increase. We've seen a reduction in permits here because the industry is tapped out. Industry has gone above and beyond and worked at 120% or 130% all through Fiona and COVID. Like I said, we kept building and stuff, and the industry is tired.