Okay, so it is understated. Anecdotally, we see significant increases in used car sales. Used cars that are just two years old are selling now for 95% of the cost of a new car. That's a huge jump up from what would normally be 60% of the total value. I totally recognize that.
I'd like to shift to money laundering for a moment and some of its effects. Many of my colleagues have talked about an 85% increase in housing prices since 2015. This follows $400 billion of new cash being pumped into financial markets and liquidity granted to financial institutions to continue underwriting record numbers of mortgages. Bloomberg says we have the second-highest housing bubble. It's eating up two-thirds of gross income.
We absolutely care about the housing market and affordability, as well as the effect that money laundering and non-resident purchases and activities have on housing prices overall. There has been a journey to gather some data on non-resident participation in the housing market. Your most recent study had an improvement, but there's still a bit left to be desired in terms of data quality there.
What have you asked the government for, or is there an outstanding list of things you need to do a better job on or to get better information on how much non-resident activity there is in the housing market?