I agree that the timing is a critical issue here. The good news is that the numbers coming back as we move into the second half of the fiscal year are growing and getting stronger as the program becomes better known. We also anticipate that there will be regional adjustments, which were committed to through the campaign process and were announced prior to the campaign, to start to fine-tune it, to make it work as effectively as it needs to in the markets where home ownership is more elusive.
This is also an opportunity, because I think one of the most important things we need to do in this term is take a look at the opportunity CMHC is starting to explore, which is the regionalization of the way we manage the Canadian housing market. Instead of trying to manage it through one-size-fits-all programs, which we know have disproportionate impacts on different parts of the country, this is the first time we have seen CMHC embrace a regional approach.
If we do the study, I would like to also extend it and take a look at how we can regionalize CMHC's approach. We know that such things as the stress test are really important in some markets, not so useful in other markets, and not even an issue in still other markets.
Trying to get CMHC, which is a Crown corporation, to embrace the regionalization of the housing market would be a fantastic thing, if all parties could agree to it, because I think it's the next step in making sure home ownership is much more attainable in this country.