John Burns is one one of my go-to guys on home building. He knows the industry better than anyone I know, and I pay attention when I see him make a call. He is typically both early and right. So I find his reasoning that home builders (and he knows ALL of them, as no serious home builder is not his client) are getting ready for a new construction boom fascinating and counterintuitive to everything else I read. I can't send you his letter all the time, but every now and then he is fine with my sharing it; and this one you want to read. Not long, as that is not his style, but full of meat.