We would be in high demand based on that gap analysis that CMHC is talking about. When you look at household formation that should be happening, in many cases, it isn't happening because of affordability issues. The big challenge we're facing right now is that affordability crunch. When you look at developers building residential, they have to sell 70% to 80% of the units before they can get started and get their construction financing, so when you're getting very few sales, you can't proceed.
Even with low-rise, there's a lot less spec building going on in these times of uncertainty. Again, builders are waiting to be able to make sales. That has been a big crunch. We keep talking about Ontario and B.C., but that's where we have the biggest challenges. Things have been going okay in Atlantic Canada, although they're starting to slow down now. It's the same with the Prairies. Alberta is coming off two record years of starts, but again, with all the consumer confidence issues, we're seeing slowdowns right across the board right now.
