Max, what's your view as to the key to unlock policies to accelerate some housing activity?

Yeah, certainly.

So for me, it does all come back to the demand side, just a little more color on how we think about affordability.

But if you just look today versus 2019, home price appreciation compared to wage growth.

And home price appreciation has obviously massively outpaced the wage growth that we've seen on average.

Now, over the past couple of years, wage growth has actually outpaced home price appreciation.

And if you look at home price appreciation compared to even just overall CPI, it's actually trailed.

Is that resulting in HELOC volume? Are people trying to renovate their houses, make them bigger? What are you seeing there and how is it impacting some of the companies in your universe?