Thank you very much.
With regard to people using existing equity, particularly in light of a quick appreciation in real estate assets, have you looked at jurisdictions that have had an escalating down payment model? You have one down payment requirement for your first property, but additional properties would require higher down payments.
Can you share some of your knowledge about that as a policy mechanism and whether it has seen success or not? How do you think it might be adapted to the Canadian context if it does show some promising signs?