HOUSING IS NOTHING LIKE IT WAS DURING THE FINANCIAL CRISIS. THAT WAS A SITUATION WHERE YOU SAW A TREMENDOUS AMOUNT OF OVERLEVERAGED LENDING, YOU SAW REAL CREDIT PROBLEMS. WE'VE HAD A COMPLETE CHANGE ON THAT.
WE HAVE A SITUATION WITH GSE REFORM WHERE THE GSEs, BOTH FANNIE MAE AND FREDDIE MAC, HAVE ALLOWED FORBEARANCE FOR PEOPLE AFFECTED BY COVID. YOU SEE THE PRESIDENT'S EXECUTIVE ORDER THAT IMPACTS OVER 40 MILLION RENTAL UNITS.
SO I THINK HOUSING IS THE BRIGHT SPOT OF THE ECONOMY.