I think we're at a fairly exaggerated level. The market is considering worst case scenarios.

The true worst-case scenarios are not even close to priced in this market yet.

wants the dreadful, wants to stare down the human race's worst-case scenarios.

We exaggerated the threat. We worst-cased it and then acted as if that worst case was the most likely case.

Considering everything, I think the picture is a little bit brighter for the second quarter and some of our fears on the economy in context of this soft patch scare are at least slightly alleviated.

Supply is there, so if apartments are priced at market level, they are selling. If they're priced above market, they're not even getting shown.