Yes, I can certainly say that it's the number one issue raising its head in our home builders' associations all across the country. There are a lot of extreme concerns over this, because the nature of the business is that there are small family-run businesses. A lot of the planning is around succession planning for children and transferring a business, and it appears that these changes would make doing that less attractive, and sometimes not really feasible.
Passive investment is a critical part of our industry, because you need money on the side waiting for opportunities, particularly on the land-development side, and even for builders who are looking to, at the right price and the right point, make an investment to buy land and lots to build on.
There are an awful lot of concerns, including those around being able to properly engage other members of the family in the family business, including all the sacrifices that are made by the whole family in getting a company up and running and keeping it going. There's concern that they're being treated as if they were employees, and they're not. They take on all kinds of risk, and it's part of what makes our economy run.
We are hearing it an awful lot, and therefore passing the news on.