You're absolutely right. There was the mortgage deferral cliff that the past-president of CMHC was warning about, and nobody was agreeing with that at the time either.
There's so much risk aversion right now with respect to the financial system writ large. We lost sight of the fact that housing is a good financial investment, and the debt that comes along with that servicing is actually creating financial wealth for Canadians. Houses aren't supposed to accelerate at the rate that they have been. That's another issue. That's not why people buy houses. People buy homes not to get rich but to put a roof over their heads. We really need to make that available to the next generation. All of the mortgage rule tightening has really locked out the next generation. We've overcorrected.