I think historically there’s been a preference in some areas—like SF Bay—to build single-family homes, sure. But more recently there are a lot of higher-density

I think historically there’s been a preference in some areas—like SF Bay—to build single-family homes, sure. But more recently there are a lot of higher-density projects being built around SF Bay, at least in South and East Bay and to a lesser degree in the North Bay, and it’s my understanding that many of these have been planned years and years before the construction actually started. The delays have been virtually all regulatory/bureaucratic.