spencer rascof, great to see you today. >> thank you. >> would you consider this a buyers market or sellers market? >> it depends on where you're looking. certain parts of the country are definitely buyer markets and others seller markets. the thing that's missing from the conversation so far is the impact of limited inventory because of negative equity. so 19% of americans with a mortgage still are upsidedown on the home loan and 38% of people with in a mortgage are in a negative equity position. the reason that's important, they can't list their home because they are upsidedown on the loan. there's limited inconvenievento that is not enough to satisfy buyer demand. that's why home prices have spiked and as diana points out, then creates the sticker shock because home prices have stocked because there's limited inventory. >> that sounds like a circular argue mgt. what breaks that cycle? >> as home prices increase people get brougt out of negative equity. that 19% was 30% during the housing recession. it's starting to break but they need to time to list and if they list their home there wil