 What is it about the housing market that makes it so critical to keep such close tabs on it? Well, as we've discussed, housing makes up about 5% of GDP. Not a huge number, but worth keeping an eye on. More broadly, our view is that housing market pressures or challenges, like higher mortgage rates or limited supply, can sometimes be frustrating for people. And those frustrations can influence consumer sentiment more widely, which may soften demand and economic growth from here.