The Cost of Los Angeles

A lot of the larger real estate, yeah, it's institutional ownership that they will be selling at a discount. Probably off market. That's what the banks have been doing in past few months. And I'll tell you one more thing. California, if you look at Los Angeles, Los Angeles is the cheapest city in the world. We remember how a nurse and an accountant can buy a nice house in California. It became less and less affordable.