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The Ripple Effects of Commercial Real Estate
The money is going to be tight, so there's that squeeze right there. The other thing I think about a lot is that we don't necessarily know the value of the underlying real estate because there hasn't been a lot of activity in the last year. We've seen it in residential real estate, where there's a sort of six months, maybe even up to a year of lag between what people saw six months ago and sellers expecting to get that when the market shifts.