In terms of why projects are stalled, I agree with much of what Dr. Whitzman said in that regard, if not all.
When I speak to members, there are all of those same challenges around construction costs, which have been quite volatile. Also, around government fees and charges, there's been a lot of discussion. I've talked to some of you about that outside of committee.
The number of variables.... When we go back a few years, projects got started and then economic conditions changed from that time, or they were well through the development pipeline and perhaps did break ground, but then economic conditions, interest rates and some of these things we're talking about changed.
It does impact how a project moves forward when, in real time, you've started a large project that has taken you several years to get to, you've spent millions of dollars getting to that point, and then economic conditions change. We can't necessarily predict those things, but they do impact whether a project can go forward. That certainly has been the case over the last few years and continues to be the case.