We're missing a lot of housing supply in probably the next 18 to 36 months. The current supply is sufficient for the demand, but because of uncertainties in taxation, rebate application and high interest rates, the industry has a feasibility problem. It cannot start new projects today that will deliver the housing needed in three to four years. That's when the CMHC is projecting we will need those units. It takes three to four years to deliver them. If we start now, we might be able to get those numbers a bit higher in a couple of years.
