That's right, but it's interesting, because the CREA calculates about twice the house inflation that you do. They have it around 25% or 26%. You have it at 12% or 13%. I've looked into why there's this discrepancy and who is right, and I have to say, with respect, that it doesn't look to me like Statistics Canada has this right.
Let me give you an example. According to the Statistics Canada housing price index, which is used for the homeowners' replacement cost, Vancouver has only seen a 25% increase in house prices since 2008. The MLS home price index and the Teranet home price index, two of the most respected in the world, say that it's closer to 120% in Vancouver. If you walk around the streets of Vancouver and tell people house prices are only up 25% in Vancouver since 2008, Mr. Chief Statistician, I think they would laugh you out of the city.
Can you explain why your measurement of house prices is so far off the other world-renowned measurements that are out there?