It depends on what you're talking about.
If you're talking about purpose-built rental programs that are using CMHC programming, those can often get oversubscribed. Some of the requirements, too, that are getting more and more stringent are making some of the projects less viable.
That being said, we've had quite a bit of purpose-built rental construction over the past few years. As Mr. Moffatt said, we're probably going to see a bit of a slowdown on that right now, in many cases.
When it comes to units for home ownership, that's an entirely different situation. Certainly in our more expensive provinces, such as Ontario and B.C., it becomes so cost prohibitive to buy. There are so many affordability challenges right now that we're seeing a complete absence, in many ways, of sales. That's resulting in a lot fewer starts. It's back to this: If buyers can't buy, builders can't build.