Is it better now than to just buy in places where there's no way that more properties could be built?

So that's a great question and I'd say the problem with those

markets is that those markets are astronomically expensive right and really you're talking about...

Something about like Vegas.

Like Vegas, like if you buy a self storage place in the surrounding area, there's not a lot of just huge lots that could be built into self storage.

Yeah. And so those you're going to pay massive premiums to get

because other people will, because it's a monopoly.

Yeah.

You're safe.

Remember, you increase value by securing revenue or increasing that revenue. So the more secured that

revenue is the higher the price will go. I like to look at areas that don't have any ones that are going to develop and honestly developing at today's cost probably

don't make any sense at all.

So then I'm like even if they developed they would have to come in at rates twice what

mine are.

I'm okay. It doesn't matter because development skyrocketed in the last three years.

You know, I, four years ago we were building at $36 a square foot. I'm at 100 to 120 right now. So if I if I'm developing in a market, I need to get massive rents.

Honestly, 80% of the markets in the United States today, I would not touch, I couldn't develop it.

Because I couldn't get rates that would make it even worth it.

We couldn't pencil.

So that means there's a lot of markets that people aren't going to develop in.

And so those assets have really good runways.

What about, okay, last question.

...