The Plankton of the Ecosystem

Banks are not going to be so worried about defaulting delinquencies when they're feeling that there's going to be continued appreciation. Many people in the United States took out home equity lines of credit when you had that appreciation. That was a big driver in the US economy, 2003, 4, and 5. On the other hand, we've had these foreign buyers, Chinese, buying higher-end homes that have contributed to the escalation of home prices here in California.