 Now, it's true that some of those people decided to sell because they plan to rent. But then a lot of those people are older and they actually don't have mortgages. So they're not really locked in. So I'm not really sure that I buy this argument that locking can justify very high prices today. Thanks, Greg. Greg Ip, chief economics commentator at The Wall Street Journal. Thanks for spending time with us. Welcome into Friday. Time now for the mic drop with this morning's Mike Gavin.