They're both very relevant. Recent CA state housing laws have snipped away at red tape, but with a lot of conditions and loopholes. So they're not going to be a

They're both very relevant. Recent CA state housing laws have snipped away at red tape, but with a lot of conditions and loopholes. So they're not going to be as impactful as they could or should be. And more broadly, in light of a couple of years of population loss to other states, California probably ought to take a hard look at its cost of living and how to drive it down.