Finance committee  Yes. I think it's so far gone now, unfortunately.

Finance committee  Yes. You will have a substantial repricing in home prices, so if mortgage rates rise—I need to remind people some times that in 2018 mortgage rates in Canada hit 3½%. Everybody thought they were going to go to 4%. During that year, in 2018, greater Vancouver home sales dropped t

Finance committee  I think it's hard to figure out what that percentage is. All I can say is that I work in the inner city of Vancouver, and 50% of units are investor-owned.

Finance committee  It's fifty per cent in the inner city if you're talking about condos. I think it's close to that number, yes.

Finance committee  Downtown Vancouver, I think, is 60% renters.

Finance committee  I think what is really huge is, number one, that we haven't been building enough. Number two is that we certainly have a lot of immigration in our country. Number three, I think, is that the bank lending is a big thing. I think there has been a lot of credit growth. All you have

Finance committee  It's a good question. I think that so long as interest rates are where they're at and mortgage rates are where they're at, you're going to continue to have a larger and larger inflow of capital into that housing market. It's just what it is. I'm in Vancouver. There's an empty ho

Finance committee  I would say so. Yes.

Finance committee  That's a good question. First off, part of it is certainly psychological and the fact that with people working from home, there's obviously a greater demand to increase their living space. But I think the other thing we have to look at is that ultimately, in order to make that pu

Finance committee  Yes, I mean, I think that, as I said, for every action there is a reaction. Maybe it was well intentioned, but I think the knock-on effects are certainly higher asset prices. I know that we're now wondering why all the investors are active in the market. I can tell you, at least

Finance committee  I can't speak too specifically on the businesses, but if you look at where the banks are lending money and where the credit growth is, it's all in the residential mortgage space. As I said, residential mortgage credit growth is running at a 10-year high and that's obviously infla

Finance committee  Obviously, when you go through recessions, typically.... I think at the onset of the pandemic, everyone was talking Great Depression. Certainly nobody wants that. What ended up happening was that certainly it was rushed out the door, and probably rightfully so, but in the second

Finance committee  Yes.

Finance committee  I think it definitely has the potential. I think for every action there's a reaction. I think what we're seeing is that the bulk of the credit creation is going into the housing market. You can see that consumer loan growth, residential mortgage loan growth, is running at decade

Finance committee  Okay, for sure. I can't speak too specifically on the tourist sector, the tourism segment. Obviously you guys are still facing different variants and lockdowns and whatnot and restrictions. That's certainly impacting the travel sector. I am very active in the real estate space