The Unusual Situation in the Real Estate Markets

The banks don't want the assets back in because they think it's going to go down even further. They rather have a GP like your old firm Carlisle or Starwood or Blackstone, hold on to the asset and try to work it out. The housing markets had a very unusual situation where Powell's increase in rates has diminished supply. So right now people are sticking in their house which is diminished the supply of homes for sale.