Thank you, Mr. Chair.
Thank you for coming today, Mr. Routledge. I really appreciate it. I think Canadians will be glad to hear from you as well.
There are risks and challenges whether the housing prices go up or go down. Keeping it on that narrow path, I believe, is one of your goals there. I want to talk specifically about capital gains, though, and, of course, the increase in the inclusion rate of capital gains and the impact this will have on the housing market.
First of all, I want to talk about the way the Liberals designed the implementation. Of course, that's creating the conditions for a fire sale up until June 25, which is just around the door. In my mind, if you're a cottage owner and you want to get the lower rates of the inclusion, you'll want to sell before June 25.
Do you think this will have any material impact on the prices? Obviously, if the housing prices go down, that puts the risk of mortgages going underwater....