Without question, the housing market has peaked out. However, I think it will be a modest decline.

If rates move up, housing will move down. But as long as we see relatively low interest rates and employment continues to pick up, housing will remain strong.

What is pushing people online is the low costs. The Internet will save both governments and end users money. There's a lot to be gained.

What is different now is the negative comments on the demand side, ... It indicates that Toll's high-end market has probably peaked and at best will go sideways.

The name and credibility of these older and more established companies are winning them more business. Longevity and balance sheets are considerations.

As long as low rates remain, housing is going to continue to do better than expected,