Definition: Craft one correct answer to the question given in input. To make it more interesting, try to use non-stereotypical language if possible. Make sure your correct answer is reasonably long, consistent with the context, and requires common sense (instead of explicit extraction from the context.) In your answer, use as few words as possible from the given context. Use a response that is uncommon/non-stereotypical, so that it is less predictable. To be less repetitive, please vary your language for each question.
Input: Context: Even back in April average house prices had fallen a few percent from the peak , but the writing was on the wall . Banks were being considerably more careful about lending money , buyers were becoming scarce and house prices were falling fast . It turns out that the reason Kate took her flat off the market was because she thought the price she was asking was too low ( I am reliably informed ) .
Question: What type of economic event is the narrator talking about ?
Output:
The narrator is describing a recession .