carsten breitfeld, the ceo of faraday future.r is ff you can now buy and sell on the nasdaqie. u.s. existing home sales rising for the first time in five months. we will discuss the state of the red hat housing market with john beacham of toorak capital partners. this is bloomberg. ♪ amber: for the first time in five months, we saw existing home sales in the united states rise. even though sales have been waffling, we have seen prices move higher throughout this period. let's bring in john beacham, the ceo of toorak capital partners. thank you for being with us. let's talk about this dynamic. sales were kind of waffling, as i mentioned, but those price increases are pretty much continuing. john: it has been an unprecedented time in the housing market over the past year, since the pandemic began. it is fundamentally an issue of inventory. sales would be much higher if there were more houses to buy, but you cannot find houses right now. house is going on the market are selling very quickly, generally in bidding wars with multiple b