We are recognizing that the problem for housing today is coming from the supply side. Throughout our discussions with builders over the past 12 months, they unanimously indicate that business is almost too good – they can’t keep up. Unlike the housing collapse in 2008-2010, where demand-side issues were fueled by the sub-prime mortgage fiasco, this time, pressures are mounting on developers & builders, struggling to meet the needs of their markets. Potential for housing is still high, but regulations, pricing, land, labor and other demographics and employment influences are hampering potential for new construction. As these countervailing forces have intensified, we are seeing housing growth slowing. Growth is projected to continue, but what we see as the potential rate is being lowered in our forecasts.