That's a big concern because they do have a lot investment opportunities there. Unfortunately, they could be unfulfilled.

In many cases, affluent homeowners have more than one trophy property for either recreational, entertainment or investment purposes.

The federal deficit is a concern, but education should not be cut. Increased education investment must be an essential part of the strategy to reduce the deficit. Education investments will more than pay for itself by increasing economic productivity and innovation and reducing the incidence of costly social issues like unemployment, poverty and crime. When our students succeed, our nation succeeds.

They've done an extraordinary job.

The first quarter is history. The focus is on what are prices going to be going forward. When they're down, there's less (confidence) that they're going to continue to go higher.

Management has been parachuted in that has not understood the fundamentals of the business. You need to bring in one person with a small SWAT team.