Mr. Speaker, as I am sure the member opposite has observed, our housing market has been faring much better than the U.S. residential mortgage market over the past few years, and that is in part because it has been well managed.
We have restricted the availability of insured mortgages four times over the course of the past several years, which has encouraged some moderation in the market. The Superintendent of Financial Institutions has also encouraged some moderation in the market and Canadians themselves have shown some moderation, particularly in the past year.