We got one of those up at the ranch.
You'll notice tire prices never went back down after petroleum tanked... they WANT that stimulus money... they're not likely to give up any margin until the next downturn and even then, will lay people off before giving the margin up...This guy thinks these prices are here to stay and that it‘s a great thing.
”So higher for longer means these prices get normalized. A gross margin on a higher price is ideal for everybody involved. The transition to get there obviously is painful, but I think at the end of the day for this housing cycle, it's a great thing for the industry.”