In 1992, 8 percent of the market share was with the top 10 percent of builders. In 2004 it was more than 21 percent and it is growing.

It’s not need; they have smaller families. It’s lifestyle.

The size of a home can’t keep increasing. I think we’ll see the size stabilize at 2,400 square feet.

This consolidation really started in the mid-1990s but picked up speed and is still continuing. In the last 15 years, about 150 companies have been acquired or merged. Most of the consolidation is confined to...

Builders are using every nook and cranny.

The turnover in housing has a strong relationship with remodeling activity. You want to keep up with the value of your investment because it is appreciating.

When people walk into a modern home, they don’t ask about a library.

That suggests that the size of the average house is stabilizing.

They want to have everything but can’t afford it. Their belief is that home prices will go up, and their income will go up.

Like all of us, as you grow old you need more maintenance and more fixing.

We can afford it, we like it, and unlike the car that you spend $35,000 on today, it appreciates and is an excellent investment.

At least the house appreciates. In every decade it has turned out to be an excellent investment.