The Importance of Regulation in the Real Estate Sector

In the real estate sector in the United States, again, you have lots of people who have a stake. And including local governments whose tax revenues are tied to housing prices. So that's again, an asymmetry that favors an institutionally symmetry that favors in the American case. I don't know whether this resonates with you in Australia, but at least in theAmerican case that favors one type of entrepreneur over another gives an advantage to them.