that said, the ecb is stull in place, so long as the european central bank views it within its man dadeve the euro, what you are doing is eliminating that systemic risk imdiana? >> hey, joe. today we have the home price, but at the same time, we saw the home ownership rate go to the lowest level since 1995. that fuels the argument that investors are driving home prices, and we could be in another double. do you see that? and what do you think happens when foreclosures start to right, as is expected. >> i don't think we are in another bubble. if you look at housing prices, we've only started to see them begin to pick up. starts have also only begun to pick up. what i tend to think of is both things that affect supply and demand. on the demand side, if you look across the entire u.s., it's become more expensive to rent than to own. at the margin action at least, you are seeing increased demand for home ownership. on the supply side has been eating away at that -- we need to build to keep up with the population growth. >> we would be remiss if we didn't ask you what you were expecting on j