Thank you very much.
Thank you, Mr. Halinda and Mr. Davidoff, for your testimony.
Mr. Davidoff, I want to start with you.
The genesis of what we have with the underused housing tax is dealing with housing affordability and the fact that housing affordability is informed by many components, as you outlined. One of them is people who effectively are parking money in Canadian properties and not using those properties, and that's actually depriving Canadians of a chance to purchase those homes. It's making those homes more expensive to purchase or sometimes even depriving them of an opportunity to rent those homes.
Do I have that aspect of the rationale correct, Mr. Davidoff?