There is an obvious impact on wealth levels, yes. Now, we have to figure out the causes and fix the issue. You are correct to mention it.
Costs have indeed been rising quickly, but there's also a regulatory burden, specifically at the municipal level. Wait times to get building permits are very long, for example. There are also administrative decisions that are made. In some municipalities, there is sometimes a lack of understanding of the homebuilding trip chain. Even for $500,000, $600,000 or $700,000, there's a trip chain. Trip chains also ensure that affordable housing is available for every Canadian. Understanding this mechanism leads to better public policy.