And the result of 2009 was a tightening in lending standards. Which helped create a 5 year glut of housing. More housing was built than there were qualified buy

And the result of 2009 was a tightening in lending standards. Which helped create a 5 year glut of housing. More housing was built than there were qualified buyers to take possession. Those govt lending standards haven’t abated. If anything they are too strict as buyers have to bring more cash to closing since appraisals aren’t matching sales prices. We’re headed for a slow down for sure but not a reversal. As much as I’d like that to be the case.