Thank you very much. It's because I'm a little short on technical vocabulary in French.
The other indicators that we would look at are particular permits. As Mathieu described, there are different kinds of permits earlier in the process, such as excavation permits. These are important indicators for us, because they gauge the mood earlier in the process and we can get an idea of what builders' intentions might be next year or the year after. They're an earlier indicator of what's to come. At this particular point in time, that's a very important distinction.
By the time the foundation is being poured, a project has probably been in the works for several years, given the permitting, event permits, zoning and all the steps that have to be taken before they actually pour the foundation. A lot has happened. Housing starts are a good indicator of what will be completed, but right at this moment, they're not necessarily a good indicator of what's going to be completed three years from now. For that, we would look at today's sentiment, which we would see through such things as permits—the information that Mathieu is now collecting. That data, while not perfectly correlated to ultimate completions, does give us a good indication of what's on people's minds now and whether the sentiment is increasing or decreasing in terms of how much builders would like to build.