bring in dfw macro housing analyst, amy nixon. amy, on february 1st, the 30-year mortgage dipped to under 7%. felt like okay, coast is clear, we're coming back. here we are marching back towards 8%. what does it mean for housing? >> you know, charles, there is actually, sort of a theory circulating in the industry now these higher rates are actually exacerbating shelter inflation and it sounds a little wacky at first but if you think about it, it's causing like you said there is a three point spread, causing existing homeowners to not sell. supply is being crunched. buying demand is being crunched because people who perhaps be buying at a 3, 4% rate are not buying at a 7% rate. what does that mean? shelter demand is always there. shelter demand moved from buying to renting. we have a cohort of six figure earning renters who would be buyers coming to the rental market. that is keeping rental inflation sticky. that is part of why we are seeing the sticky component to shelter in the cpi inflation numbers. charles: that is interesting