I haven’t run the numbers but I would expect to have seen a pretty similar spread between renting and owning when I first bought in ’91 if all this crazy creative financing was available back then. The reason the spread was much smaller back then was due to the downpayment requirement. If the numbers were run today based on convential 20% down loans and convential debt-to-income ratios, I would expect that the spread would be substantially lower than the 50% claimed and probably fairly close to what it was back in the early 90’s. So apples to apples, I think the numbers would show a present-day higher % discount for renting than in the past, but not by a whole lot.