I think this is a big thing. If everyone defaults at the same time, the property market just vanishes as everyone force-liquidates to manage the defaults. If th

I think this is a big thing. If everyone defaults at the same time, the property market just vanishes as everyone force-liquidates to manage the defaults. If that affects collateralization levels, it's even a positive feedback loop. The RE companies that have good balance sheets will have great opportunities in the coming years.