As my colleague has said, whether you're a non-market or a market developer, you're influenced by construction costs, which have been affected by the trade war going on with the U.S., by labour costs, by land costs—well, not once the construction has started, so I'm going to walk that one back—and by ever-increasing development charges.
Let me be clear that development charges need a solution. The solution isn't just to say that municipalities can sort it out, because they have less than 10% of the tax dollar. Some things are going to need to be uploaded to provinces and the federal government, but putting the onus on newcomers or people interested in a new apartment or a new owned home is a really regressive form of taxation.
