This is the Ramsey Call of the Day, part of the Ramsey Network.

So George, a couple of months ago, we did a huge millions and millions of people watched

a live stream for free called the Real Estate Reality Check.

We addressed several things in that hour, and we don't have time to address them all right now,

but a lot of people were predicting 2008 again that real estate prices were going to absolutely tank.

We said they are not going to tank because there is a pool of buyers that is much larger than the pool of sellers still, and the supply demand curve will maintain the prices.

Meaning when you have a whole bunch of people trying to buy a few things, it holds prices up.

It's that simple.

When there's a scarcity, prices go up or at least are maintained at a minimum.

And we said, of course, the exception to that is the areas where people are leaving in mass.

And we showed a map of the number of people that have left New York and left California

and have left some of the high crime

cities and crazy politics of all kinds, defund the police or whatever else cities.

And so, we said, so far though, even those areas, California, New York, Seattle, Portland, have not seen decreases in real estate values.

That was about two months ago, three months ago.

Reports are coming out right now.

We just got one dropped on the desk.

Western U.S. continues to lead in home price declines.

So now California is seeing the mass exodus of California starting to affect pricing there in some of the areas.

San Francisco's taken some real hits.

3.4% decrease.

Of the top 100 cities, the city that has taken the largest drop in price declines so far as Seattle.

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