Thank you, Chair.
Minister, housing inflation is homegrown. Bloomberg reports that Canada has the second-most inflated housing bubble in the world. In my riding alone, Bruce—Grey—Owen Sound, houses sold this past month, in January, for $756,000, an increase of 39.7% from a year ago. That's despite a median family income of only $61,000.
Within your mandate letter, there's a commitment to identifying how federal regulators can be better positioned to respond to the housing price fluctuations and make it more stable for Canadians. I was a bit concerned, and I'd like you to clarify, that in your opening remarks you talked about the housing accelerator fund being primarily focused on urban areas. For the rest of Canada and those of us who represent rural Canadians, how are you planning to address these fluctuating prices?