Mr. Chairman, I think that Mr. Patterson was correct when he said that in some of these communities where there's an evolving housing market or land market, you're going to get some teething problems. I think in Hay River now the situation has resolved itself and people are buying houses and they're buying lots. They're not getting stuck with all those lots and no way to service the debt. As their land development fund grows, they are able to make those payments. The other thing that I've noticed in Hay River particularly, is that they used to buy a lot and then a couple of years later they'd ask do you want a sidewalk and then there was an additional tax and so on and so forth. I notice that there's more development of a lot and as Mr. Patterson says, there's not only a driveway in these lots, but there's underground electricity, the lights are in, and the sidewalks are up and so on and so forth. You're buying something that is complete.
In Yellowknife, I know that here -- I saw your eyes light up, Mr. Chairman as I mentioned your home town -- developers take a chunk of property and develop the whole lot themselves and they carry the risk. I think that from the experiences that we've learned, once Finance and MACA have had a look at this situation, we will be perhaps making some recommendations to Cabinet as a whole on ways that these things can be handled in future years. I think we have to respect the fact though that, in Inuvik, in particular, with Ptarmigan Hills, the council of the day made a decision that they thought was correct. They felt that they could sell those lots. They were impacted by things that were beyond their control: the armed forces had left, oil and gas activity had been shutting down. They were left with some inventory on their hands that they really truly thought they would be able to sell if economic activity had continued. I think there are times when communities do get caught in the crunch, whereas if they had not made the decision to put some more lots on the market and there had been a boom, then they would have been up against the wall without enough space to put people. These things happen, we'll learn from the mistakes, and certainly when MACA and finance get done, we'll make some recommendations, Mr. Chairman. Thank you.