Well, the financial crisis was extremely traumatic in the real estate industry and perhaps it started with the real estate industry. One of the pitfalls that helped lead to the financial crisis was the complexity in the structuring, not just of real estate transactions but in how the securitizations were done, and some of those complexities have been simplified, and the underwriting has been made much more conservative.

Since maybe two years ago, the pendulum is swinging back a little bit, and some of the lenders underwriting criteria has been relaxed a little bit from what it was two years ago, but nothing like it was before the financial crisis when it got pretty sloppy.