The Two-Speed Recovery in the Housing Sector

I think housing does remain first and foremost. I think partly because of its direct impact on commodities demand, but also really the impact on confidence. Because if you look at it, just like everywhere else, when they went through their COVID lockdowns last year, have accumulated enormous excess savings. That's an increment that has gone up by about 50% over that last year. And so there is this question around, do that then transit into pent up demand being expressed? Once that is more established, I think that's where we will start to see this to become more one speed, but it's human nature, so it's fickle.