A question: I want to thank you for Socrates. She picked the role in Real Estate in January amazingly well. Do you see the continuation of regional and high-end differences?
Answer: yes. The directional change for 2021 was spot on. Our index began to decline in January 2022 anticipating the first rate hike on March 17, 2022, by a quarter point. We expect prices to come down in 2023, and that should be the typical two-year low reaction. It appears that after 2023, we will start to see the shift as private assets will start trading at a premium over the government’s public assets. The spread between the government and the private sector will decrease as it was during the Great Depression as countries started to default on their debts.