I understand. Thank you for the clarification.
It is important, though, to note that there would be very little rental construction—if any—in Canada if it weren't for CMHC's insurance programs. We are the only game in town to provide insurance on purpose-built rental, and we are doing incredible volumes of it. Most of that is with private sector players, and thank heaven that the private sector players are active, because without them we wouldn't be having any purpose-built rental in the country at all. They play an important role in the ecosystem of housing.
I understand the particular concern you're raising about the ability to demolish more affordable rental spaces and replace them with luxury rentals. That is something we are concerned about. That is something the government is concerned about. It is the reason that the federal government announced its intention to look at and develop the Canada rental protection fund.