Question-and-Answer Session
Operator
(Operator Instructions). We will pause for a brief moment to compile the Q&A roster. Our first question comes from the line of Jay Haberman.
Jay Haberman - Goldman Sachs
Hey, good morning. Here with Sloan bowman as well. Bill, just starting off with your comments, with regard to the firming and occupancy, you know, it does seem to run counter to sort of the trends we are still seeing in the housing market. And I am just curious to sort of get your thoughts, I mean, do you think more a function of the beefing up on the expense side and obviously reducing the turnover at the facilities or are you seeing at really just improving sort of demand from the customer?
Bill Sheriff
It is a combination of factors. There is the continued pent-up demand I think is beginning to be evidenced across the sector. Certainly we believe that some of the investments that we have made are beginning to bear fruit. And we think the perception of the consumer is -- though there is not a total sense of bottoming, it is definitely improving.
Jay Haberman - Goldman Sachs
Okay. And you mentioned the increase, 100 basis points, I guess, from the lows. Are you still seeing that sort of trend continue? I guess given the recent data?
Bill Sheriff
Our most recent data and outlook and the book at what we have for August continues the trend that we saw in July.
Jay Haberman - Goldman Sachs
Okay. And then, with regard to share repurchase, I know you mentioned that the $20 million and you will be back in the market again. You know, what's the expected timing for completing $150 million? Is that the year-end agenda or is that going to likely persist into next year?
Bill Sheriff
The approval expenditures in next year and we are not going to give the specifics.
Jay Haberman - Goldman Sachs
Okay. And just one further question on the litigation. The $8 million reserve you've set aside at this point. Can you just give us a sense of how you arrived at that number, and obviously if settlements don't go forward with the second case, where do you potentially see that number going?
Mark Ohlendorf
Well, this litigation obviously has been in our securities documents since the time of the IPO. So, this has been around for some time. We make a judgment around what we believe our ultimate exposure to be, and that's what we have recorded.
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