Does that anecdotal story reflect what you learned in your study? Are Gen Xers frugal like me, or am I an anomaly? I don't think Gen

Xers are especially more frugal.

I think with what we were seeing here is that it's not just Gen Zs.

We think Doom, thinking about the future, it must be younger people, but it really spreads out up to maybe the age of 54.

And then we see it taper off when you get to the boomers.

But yeah, I'm a Gen Xer myself.

I think when it comes to Doom spending for me, part of that is also a little bit of lifestyle creep.

Like, I even booked this interview, even though I'm not sure it's a new thing, but I still want to talk to Clay about it.

What is driving this major drop in demand?

Looking at the data that we have, it looks like it's affordability.

A lot of the talk around real estate sales or the lack of them the last year or two has really focused on this idea of economic uncertainty.

And a lot of that stems from our trade relation with the U.S. and fears around recession and job losses and whatnot.

But the data that we collected through our friends at Angus Reid shows us that it's not really fear that's keeping people from buying, but it's just their present financial restraints.

So, for example, like when we were asking them, what are the biggest challenges preventing you from buying a home? Our most common answers were that other living costs are too higher and predictable.

People can't afford their down payments.

Do you feel that it just feels that hope is lost for an entire generation that just keeps waiting for something to bounce their way?