Thank you, Mr. Chair.
Thank you, Ms. Volk and Mr. Laberge, for being here. I appreciate it.
This is about housing starts. Mercifully, we've actually been talking a little more broadly about housing and the health of the housing sector in this study, which is good, because a study of housing starts alone would be pretty simplistic. You did speak about that in your opening remarks, but I wonder if you could elaborate a little more on why quoting housing starts alone doesn't really tell the full picture. What's missing from a housing starts analysis?