Poloz and his colleagues are entitled to their own opinions on how OOH should be treated in a target inflation indicator. They are not entitled to their own facts, which appear to be fabricated to minimize the importance of this major Eurostat initiative. If the 2011 renewal of the inflation-control agreement had adopted a net acquisitions approach to measuring OOH costs for its target inflation indicator we might not be at risk of a housing bust as we are now.