It's certainly not a healthy state by any means. It comes back to what I said. We have tremendous demand that is well in excess of any underlying demographics or any reasonable fundamentals, partially due to increased speculation from domestic investors and international investors. There's also an element of truth to the statement that we have not built enough, particularly as relates to single families, so it's a confluence of factors.
On March 24th, 2022. See this statement in context.