Thank you also for that question.
We do not build new housing; we acquire existing buildings. We benefit from the fact that those buildings exist already, so our projects are not slowed down by supply chain issues. We can acquire those buildings today. Of course, once you own a building, especially a building that might be a little bit older, there's a need to renovate those buildings, to improve them and repair them over time.
Of course, we are experiencing some cost escalation due to supply chain needs and labour shortages. The benefit of having a tenantable building on day one is that you can plan for those repairs over time. In many cases, especially when we're purchasing better buildings, we can provide affordable housing to those who need it while we experience those delays in securing the labour and getting the additional funding and financing to afford the repairs.
We're finding that we can continue to provide the benefits to the city and to residents of Toronto, even with these shortages. Of course, they can slow our work down a bit, but in an acquisition context, they have less impact than they would with new construction projects, which are experiencing huge cost escalations and huge delays.