Thanks very much.
I'll be quick. I'm no expert in this area, but I will say that I've spoken with a number of people—private developers—who are either attempting to produce or are producing market-rent buildings. I would say it's a fine balance. With no work or legislation related to having rent controls, it is very difficult to provide anything close to affordable housing. At the same time, there is certainly no question that it does pose a considerable concern for those developing purpose-built rental housing with respect to the impact it can have on the viability of their project.
What I heard in the end though was that most of them would be comfortable with the rent controls if they would just be stable and predictable. They would like to see governments—one government to the next government to the next government—not constantly changing the rent control rules and regimens so that they know what they're dealing with and their pro formas can reflect that. So, I think I would say that a multi-multi-year stability in approach to rent controls is very valuable, but it certainly is a concern to those building and we need the supply to increase as well. It's a fine balance.