Land costs have gone up. There was a discussion in the last session about land costs. Keep in mind that land costs are going to be very different as a proportion, depending on whether it's a single-family home or an apartment building. An apartment building will be using land more intensively.
Both construction costs and labour costs went up during COVID and after COVID, and they will only continue to go up with the continuing trade stuff that's going on with the U.S. It's really important for Canada to develop its own homebuilding industry that takes the raw materials produced in Canada, such as lumber, steel or concrete, and creates finished products in Canada, as opposed to the current situation where well over 50% of materials come from the U.S. Quite often, raw materials are sent to the U.S. and then sent back in a final form to Canada.
I think that the industrial construction industry is a really promising direction. I think that the centre at UNB in Atlantic Canada is doing an amazing job of coordinating initiatives. That is one of the ways to bring down costs in a clear and relatively short-term way.