Mr. Speaker, the amount will depend on exactly how bad the downturn in the market is. When people walked away from their mortgages in the early eighties, the difference between the value of the house and the mortgage is what CMHC had to pick up.
I cannot give a number. It is going to depend entirely on how much interest rates go up and how many people walk away from their mortgages. It could be a very large number, in the billions of dollars.