Dr. Rachel Slaymaker:

In the short term, in a market where there is such an imbalance and an excess of demand relative to supply, it would seem quite likely that removing the caps would lead to upward pressure for at least some households. From a longer term perspective, as we said, there is a lack of supply, and it is likely that the tight caps are contributing to a lack of inward investment in new construction. It is only one factor so I do not think we can necessarily say that removing the caps, in and of itself, is likely to lead to a big increase in supply. I do not think it is that straightforward, that simply removing the caps in this case is likely to lead to that in the short term, at least.