From a long term perspective - I think the biggest question I've been wrestling with is will we to see new lows before a long term recovery. It's really not an NVR question. No doubt the best builder out there hence the valuation 3x everyone else but really just comes down a sector question. The answer to me is about time. How much time will it take? If 08 is worse than 07 - it reasons that we'll see new lows. Looks like first quarter is worse so how about 2Q? I can't see what will push 2Q higher - just looking from sales volume perspective - how about 3Q & 4Q - 3Q07 and 4Q07 were pretty bad so maybe volumes might start looking better?