There was a big decline in house prices during the Great Depression and a large increase in mortgage foreclosure rates. To that extent, it’s exactly the same phenomenon. However, the cause of the housing distress during the Great Depression—the rise of foreclosures, the number of homes with delinquent mortgages and so forth, was the depression itself—the falling incomes, the collapsing price levels. That caused the distress in housing markets. In 2007-2009, the distress in the housing market was largely caused by the housing market itself—the boom and the bust, which was centered, of course, on the subprime market. So, there is a real difference between the 1930s and 2007-2009.