Thank you, Mr. Chair.
I thank the guests for coming here. It's quite an array of industries that have a big impact on our economy.
I'm splitting my time with the member for Kings--Hants, so I have only three minutes. My questions are going to be to the Canadian Real Estate Association. I have two questions that are together.
The first question is on the regional disparity between different parts of our country. When you look at Vancouver and Calgary compared to maybe Corner Brook and Sydney, Nova Scotia, there is quite a difference. Do you see that change continuing, that disparity? That's my first question.
Second, what is the outlook this year in the real estate market, with the subprime mortgage situation in the States and the softening of the U.S. economy? Do you see our real estate market cooling off?