Russell, I have this view on rent. For those who owned the houses for a long time, they have room to lower the rent a little bit to compete but they do not want to lower too much partly because they are in in trouble. For those who are in trouble, they have a high mortgage amount and they cannot really lower the rent too much. Even at the current rent, they might have lost money anyway. That is to say they do not have room to lower the rent. These are the people who cannot compete with longer-term landlord. They’d rather dumb the houses than lower the rent. These are probably the reason the rent is not going very low.
