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Why do you think that?

I think it's the tenure of management. We're not just doing it for units; people care about it. For instance, when I was there, we monitored that nobody could have more than 10 homes under construction at one time. When you talk to other companies, we'd get people coming from Horton, LGI, and Lennar, and they'd have 70 homes under construction. There's no way to monitor quality at that scale. Often, subcontractors are driving the ship. They show up, aren't managed, do their work, and the next person covers it up. It was eye-opening to me that affordability often trumps quality in terms of volume for these home builders. All the big ones are in the same boat, doing high-volume, big-box, efficient work. I used to think quality mattered more, but affordability is a huge pressure now. When I was growing up, it was more affordable for my wife and me to buy a first home. It's not anymore. If you can dominate in quality, efficiency, and cost, I think those builders will rise to the top.

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