Thank you, Mr. Chair.
Once again, my question is for Mr. Charles and Mr. Levings. However, as I have only two and a half minutes this time, it will be more difficult to get an answer from both.
In the current situation, most households will expose themselves to more risk to purchase a home. As the prices are very high, they will purchase a home at a price that is higher than what would be desirable for maintaining a comfortable level of risk. So there is greater risk exposure, in my opinion.
At the same time, as the real estate market is bullish—in other words, the prices seem to be increasing steadily—banks and financial institutions may have an interest in taking more risks. They may be willing to provide a loan to a household even if the risk of payment defaults is higher, as they will be able to resell the residential property at a higher price and thereby recover the costs anyway. So we would return to a scenario akin to the one that led to the crisis of 2007, 2008 and 2009, especially in the United States.
I don't mean to refer to your specific field of activity, but, given your knowledge of the entire mortgage market, do you think the mortgage market is currently facing more risks? Is that a concern for you?