percent call it sixty five percent of all new homes are are from second and third buyers china is on the furch of a huge bust with these empty homes sitting there once the credit market in china starts to turn down certainly there's stock market over there is is giving that signal right now that something is wrong and either we're going to see some follow up there we've got state owned enterprises over there that are insolvent that china just keeps bailing out and keeping alive at zombie corporations over there fifteen percent of the companies in the s. and p. five hundred here zombie corporations all the zombie corporations are keeping workers employed. and then to keep happening as long as they can get financing so it all ties back to that we're on the verge here i think of a huge global slowdown it's going to hit the equity markets hard in wrapping messala you are one of the early champions of professor steve case who called the crash in the australian property market a few years ago looks like he was a bit early but absolutely right all right michelle like thanks ray on the kaiser report p