It is my opinion that there is not enough housing to meet the demand. We operate primarily in small and mid-sized markets around the greater Toronto and Hamilton area. We don't do anything in downtown Toronto proper or downtown Ottawa proper—some of these major cities—but we operate in cities like Hamilton, Burlington, Cobourg, Kitchener and St. Catharines, which are important communities. What we are finding is that the vacancy rate and the rental market is as tight, if not tighter, in some ways, in some of these mid-size and smaller markets where we're operating.
On June 10th, 2024. See this statement in context.