. >> lawrence eunice back this rning and he is the chief economist at the nationa association of realtors. he is here to talk about marke and interest rates. good morning, the last te you are on you talked about there being a housing shortage in this country. what is e state of the u.s. housing industry? guest: good morning. thank you for having me. it is less of the case now given that buyers have received this from high mortgage rates and the fastest rise in mortgage rates in 40 years has led to fewer buying activity. bu we still have the inventory. the inventory of homes are still below 2019. 2019 pre-covid days. so we still do not have enough inventory even though when one looks at a specific market in austin, denver, nashville, they would say it has doubled but it is doubling from very low levels and that is technically correct but in reality the inventory is still short. host: are builders building the right type of house? when are homeowners -- looking for and is it the right type of home on the market? guest: the inventory situation is that the builders are active on building apar