summarize, state key points in two bullet points from this: 
So I think your sentiment on – your observation on mix shift is accurate. We – when I talk to our dealers, I talked to a lot of dealers across the country from very, very large dealers to small dealers. What we're hearing is that at the higher end, and we have some customers that frankly specialize in very large projects. They're actually doing quite well. I believe it or not, I've had a couple tell me that they're sold out for this year and into next year, but they are the very high-end specialty builders.

As you work down the chain from very high end to more entry-level pools, there is a phenomenon that happens and that is – has to do with how that pool is paid for. The very high-end pools are typically purchased by more affluent families and the percentage of those that have really any concern about financing cost is actually very low.

The flip side to that is if you go to the opposite end of the spectrum, the entry-level pools, which is what we think drove a lot of the new pool – the increase in new pool activity through the pandemic, there was a lot more entry-level pools built. So I think the mix of pools was skewed towards the entry-level pools. And the reason is because financing cost was actually quite low.

And if you talk to the dealers, what they would tell you is that many of those conversations, many of the closes happened at the kitchen table. And they were basically – they were selling a – they were selling a backyard resort, but they were basically selling that as a monthly payment. And monthly payments when the interest rates and finance rates and HELOCs were very low and lending was free flowing, monthly payments for those projects and the fact that a few years ago, you had less inflation.

So the overall price of the pool was lower. They were selling that based on – some of those were $700 to $750 a month payments. That was a very achievable number for folks that wanted a pool and decided to invest and become pool owners. As interest rates have come up as inflation has worked its way through the system, as labor rates have come up – that same payment, in many cases, dealers are telling me is now $1,200 to $1,400, which simply puts it out of the range for many of the families that would be stretching at frankly, a $700 to $750 level.

So if you ask me what I think it's going to take to change that, I really think it would be – it would have to be one of two things or a combination. One is if interest rates were to moderate, it's just 