Yes, I mean, I think that, as I said, for every action there is a reaction. Maybe it was well intentioned, but I think the knock-on effects are certainly higher asset prices. I know that we're now wondering why all the investors are active in the market. I can tell you, at least in terms of my clientele, that we just look at it and say, okay, well, look at all the money going out the door. This is typically, historically speaking, very good for hard assets such as real estate, and that's certainly drawing more and more Canadians into the housing market.
One of the big trends we're seeing right now is that normally if you have a condo, for example, you sell it and upsize into a house. You sell one asset to buy the other asset. What we're seeing now is that it's very common for people to keep that existing condo, convert it into a rental property, refinance it, and then go out and buy their house. They're opting to keep multiple properties.
I think that's as a result of the bull market we've had in Canadian housing. I mean, with home prices growing at more than 20%, where else would you put your capital? So yes, there are certainly some knock-on effects—