We definitely see that the correlation between price and market conditions is looser than it was a few years ago. We advocate for more fluidity in the markets and a slower increase in rent and housing prices. We also see that incomes are, in fact, starting to catch up. What we see in our research is that we have the capacity to increase the housing supply even more with the resources we currently have. There have never been as many workers in the construction industry as in recent years. If we apply past productivity to the number of workers, we could reach much higher levels of housing starts. However, it will require structural changes, for example in terms of productivity or industry consolidation. That would mean there would be enough capital in the industry to invest in new technologies.
