housing market is still quite bullish? >> i think it is. the fundamentals are very supportive of home prices continuing to rise. we have very low inventory. a lot of pent-up demand coming from household information and also coming from people that were sitting on the sidelines waiting to feel more comfortable about the idea housing is an appreciating asset. i think we are seeing a continued improvement in housing and demand. it could be volatile. it always is volatile. the data is very noisy. we have to be careful. >> do you this i it is a game for the 1%, this real estate game at the moment? when you look at first-time home buyers and they tell the realtors that they can't find the house they want in their price point but they can't find something they can afford probably because of inventory issue you and they are still having trouble getting mortgages? you look at some other of these markets, 57% of the purchases in florida are cash purchases. 80% of purchases in vermont are