While we have expected weaker trends in orders, we were surprised by the magnitude of the 20% decline in the quarter given the significant community growth.

It's weaker than expected due to the decline of inventories, but final demand is quite strong. Basically, it's a strong report despite the weak headline number. Consumption and all domestic demand is firm. Exports are also strong, showing that demand is quite balanced.

It is a genuine shocker... I don't think anyone anticipated a decline of this magnitude.

We were surprised. We were scratching our heads. Something of this magnitude is really out of the ordinary.

I'm just so surprised about all of this that I'm speechless. I never expected that I would be the first one to win a medal for Japan, so I didn't feel that pressure. But I'm very happy that I am the one who won it.

We believe the high pace of construction activity and softening demand will lead to increasing inventory levels through 2006 and less price appreciation.