report yesterday that caused the s & p 500 to actually hit a new high, albeit by one point. less than one point. so you are seeing a market react to some of the housing news, seeing the market react by hitting these new all-time highs, like the s & p 500 did yesterday, chris. >> a great headline to end on. you did have a record at the nasdaq. i want to bring in christine romans, because we need to understand why this is good. first, as i know, someone very intelligent told me once, all real estate was local. christine romans told me that. explain to me what is the significance beyond the number? >> when you buy a house, right, buying carpeting, maybe changing out fixtures in the house, buying a couch, hiring a mover to move you in, move you out. so there is this radiating effect of the movement of money. buying a house, spending a lot of money. it shows confidence as well. consumers confident in the job, where they live, the school district. a big-ticket item.