Housing is impacted differently in each recession and by location. In two thousand eight, when you had areas in florida where home prices were 30 % of what they were 24 months prior. So that deflation took place in the housing market in two thousand eight. It was a recession that triggered asset class deflation. But yunow cities like phoenix, atlanta, orlando, there was a lot of builder speculation there pre recession that led to an over supply of inventory during the recession. And as a result, when the chickens came home to roost, we're not hit nearly as hard.

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