Well, yes, absolutely, because if you look at the history, modern methods of construction are nothing new in Canada. We have some very good success stories here. We know that it just doesn't really work within our environment—other than for years we've had things like modular units that have been produced for rural environments.
Sometimes, in rural environments, especially up in the north, you don't have the trades and the construction companies that can actually do this work. I'm not saying in all cases, but this is where modular and panelized housing comes into play. If you look at the Canadian context, it's about 2% to 6% of the market across Canada. In the best-case scenario, we might get that up to 10%, so it's not your solution to the housing crisis. The big problem we have is all the mess we've created in doing things the way we've done them before.
In terms of modern methods, Bonneville, a company I visited in Quebec, is fantastic. They produce a beautiful product, including apartments. They've been doing it for 70 years, so that's a rebranding that's a bit of a marketing gimmick. As to why we haven't advanced that further, the reasons are much more complex. I'll talk about that some other time. It doesn't mean to say that there aren't other opportunities. I've been to Japan. I was in Germany twice last year, and Switzerland and Austria, looking at their off-site facilities, manufacturing equipment and so on. Once you really get into it, you understand what our limitations are there.
It's not the answer. It's a direction that we have to go in, for sure, but it will take a long time. You have to build factories. How long does that take? You need to have the investment for that. Then you need to have the market for the product that comes out of it. The only companies that are successful are really the ones that build for their own use primarily and then sell to others. We've had massive failures there. For Katerra in the U.S., $2.5 billion went up in smoke. There was no market for these beautiful factories that were built to produce this housing.