Beyond people wanting to upgrade their primary residence to have more space or a larger yard, or things that I think people have come to value greatly during the pandemic, one of the factors we hear a lot about is investment as being a real driver in the housing market and that there are at least two classes of investors.
One is more a commercial investor and with [Technical difficulty—Editor] corporate we've heard talked about sometimes. Then there is your typical Canadian homeowner who may have owned their home for a while now, has a bit of equity in their home and has decided to use that equity to purchase a second property that they then rent out, whether it's a vacation property and they're doing that on Airbnb, or they're providing [Technical difficulty—Editor] can't afford to buy their own home or who would rather rent.
When we talk about the increased pressures in the housing market and this investor presence, does your data allow one to kind of weight these factors at all in terms of how much of the pressure is from Canadian households looking to upgrade their primary residence versus different classes of investors that are entering the housing market for a source of passive income?