Simon Belanger

And, you know, but the most individually most common or most popular is actually the variable.

But that seems to be like, that seems to be where we're seeing more of the impact is on the housing market where we're now trading four months in a row, five months in a row, we're below last year's housing market sales volume.

And last year was one of the worst years ever, right?

Per capita, it was the worst year ever, and we're now going to beat it.

So

It like is the is the stock market just detached from macro at this point, like and just not doesn't care because it's so bullish on AI.

And how can the macro, like how can investors just ignore that, right?

Like, I guess, is it just like they're, you know, they're basically just saying like AI is so strong that it will, like, it doesn't matter.

Like macro doesn't matter.

Rates don't matter.

Like, are they pricing in the actual possibility that they, that it thinks that we're heading towards this like kind of post-work, like post-money environment?

Like, I don't know.

I mean, I know I'm sounding like sounding crazy right now, but like, this is the stuff.

Yeah.

This is the discourse that you hear right now.

Just like where in the bubble are we?

Exactly.

Yeah.

Yeah.

You know, it was like, you could say that, like, I mean, everybody said that about Canadian house prices for the past 15 years and nobody was necessarily wrong, but had you traded on the assumption that the end of the bubble was close, you would have not done well at all.