First, I never said the crash was over.

Second, this is a good thing. It is a success not a failure. I mean it's bad for the investors but China has decided people having affordable housing is more important than the investors. The investors aren't being bailed out.

Why is this a good thing? Because the only way we can correct Western housing markets at this point is by doing what China has already done. That is, crashing the housing market. And that is political suicide so we are where we are and it's not going to get better anytime soon.