That has to be a concern, and I'm not sure why it isn't a concern to OSFI, the banking regulator, that in reality we have created an environment of 100% financed rental properties in Canada. By the way, this is something that was eliminated in the United States after the 2008 mortgage crisis down there. They realized they didn't want to have anybody doing 100% financing of rentals anymore. It's dangerous. These are highly leveraged and, just as in the environment we see today, this is one of the reasons rents are going through the roof. People are borrowing out of the existing equity on their homes through a line of credit, using it as a down payment on a rental property and getting a mortgage for 80% of that rental property, so that's effectively 100% financing.
It's a very simple move for the banking regulator to say, “We don't want any more borrowed down payments on rental properties”. That would take a lot of the leverage out of the system and ultimately, to Jennifer's point and to the other witnesses' points, with professionally managed, safe, large-scale rental buildings, there's no such thing as renoviction or demoviction or family eviction. It's a safer model for everybody who's in a long-term rental, and this change of eliminating the borrowed down payment for rental properties would allow for the removal of that amateur landlord from the system.