What's the data telling you as you kind of look at the broader ecosystem of real estate?

Well, with the tenure where it's at right now, I think this morning was 5.3. It's tough.

There is a lot of kind of unique companies that are currently on hold.

I mean, you look at BTR and I had a meeting with somebody yesterday.

They have a very tough time right now.

Both the Road to Housing Act, both the uncertainty that was created through that.

And then now the tenure where it's at, you know, refinancing some of these assets, building new assets is difficult.

What's a hot take from Daniel?