Right. You know, definitely a supply demand. problem where population is continuing to grow. But we weren't building housing. You know, the great recession was horrible. And well, they actually suffered pretty significantly. So did Larimer during the Great Recession, because we weren't kind of overbuilding. I don't know, if you remember just the number of homes going into foreclosure. In 2009 2010, it was pretty horrific. You know, so it makes sense we stopped building than we continue to grow. But then you all probably are well aware, it takes, you know, probably five to seven years to start a business cycle back up again and getting builders building getting pyramids, getting all of those things done. So, you know, we've always had this mismatch with supply and demand. And it's, and it's bad. Next slide. But we have started making up in terms of those permits on the left hand side is Colorado, the blue component is single family, the orange is multifamily. So we have started building, or started permitting, we actually had one of our highest years ever in terms of building permits in 2001, higher than we even saw in the 90s which is crazy to think about. And if you look at the left hand side or the right hand side, then we've got Larimer and weld weld is in the blue Larimer is in the orange, same cycle, we stopped building significantly, you know, and then starts back up again, in terms of permits. And you know, any of you that are in business understand, when you start and stop a an entity, it really is not easy on a lot of folks. But at least what we're seeing right now is a lot more permitting going on, we'll start to catch up, because we do see population starting to slow down. So on this end, we'll start to see supply increase demand slowdown, and that will hopefully start to put some downward pressure on price appreciation. Next slide. On top of all of this, we also have this aging thing where we're pretty young state, and both counties are pretty young, but we're aging pretty fast. And that's having an impact, especially on the labor force. And that's what I want to mention right now. Next slide. This these two graphs show the age distribution of both counties left hand side Lerma right hand side weld. A couple of things that you can see you can actually see on that left hand side with Larimer, the slowdown in the bursts. So pretty significant slowdown. You know, weld or Larimer County probably will start to see a slowdown in the school age population this next decade, not last decade, but this decade. Weld, you can see maybe a smidge of a slowdown. But I was looking at this more more recent data from this year. And actually there's a pick back up in the bursts in weld. So maybe we'll only see a little bit of a trough. But the bigger issue is live we look at the black lines that's at age 65. What we do see at the same time now is a lot of people aging into 65 plus and what do they typically do as they age into that 65 Plus they tend to retire. So for the state as a whole what we've seen is last decade, about 500,000 people retire this decade, we're expecting about 400,000 people to retire. And we don't necessarily see a net out migration of the older adults. So compounding the challenges that we've got filling new jobs is we're also going to have a challenge filling old jobs. So pretend me I'm going to age into retirement this decade. I'm not going anywhere. The next state demographers not living in my house. So I'm going to be constraining supply because I'm not going to make this house available. And it my job is not a new job. I'm an old job. So on top of any new job growth that you see in Larimer and weld, you've also got old job growth caused by retirement. And again, this is going to hit both counties but especially well, for anybody that might be living in weld, yet they hold jobs in other places. So it won't show up as a cause from a new job. It's just tends to be from retirement. So think about this compounding issue. So next slide. If we then look at kind of the forecast over the next decade, the top Up is Larimer. The bottom is well, we're forecasting about 50,000 and growth in Larimer County. But if you look by age, almost 50% of the growth in Larimer County is actually forecast in the 65 plus. So it's not actually forecast by necessarily people moving in, that are young, like that typical migrant, it's actually that older adult. And it really could be not necessarily from migration, but really just by celebrating birthdays. On the Weld County side, however, we're forecasting about 95,000 in growth this decade, so about 9500 a year, which this last year you met that in, supersedes who preceded it. But only about 25% of the growth is in the 65 Plus where really the majority of the growth is in that working age population. So different kind of scenario for both counties. Next slide. So I guess the biggest point with aging is to really be aware, and in terms of percentage change, we really see the fastest growth in that 65 Plus and slower in the younger ages. Except for maybe, well, well, there's got a little bit more balance, and more growth at that younger end, but still 25% of your growth in the 65 Plus, is pretty significant and fairly new. So well, there's gonna see it at both ends at the young end and the older end, where Larimer is going to see it primarily at that older end, but still in that kind of school age population. So kind of a word of warning is that you're gonna see actually a lot more older adults on the road, as well as getting driver's licenses. So that could be a lot of fun. labor force, labor force, you're gonna see a lot of commuting, still, but hopefully somewhat downplayed with COVID. And the fact that more people are doing the remote. So they're only doing it two days a week instead of five days a week. Really thinking about it in terms of housing and households that a lot of the growth you're going to need for new people coming in, like think about my scenario, people retiring, but aging in place, people create community. And so thinking that they're going to leave is not likely, they're probably going to age in place, because that's what traditionally, traditionally older adults do. And then we've got millennials coming into home buying and second Holbein. So think more in Larimer County, being Be aware of your second homeownership, especially on the mountain side, have that and I know that's probably not part of the MPO. But still impacting the county as a whole in impacting commuting patterns and driving patterns, Gen Z aging into renter ship and and homeownership. So just be aware that this big issues, big changes coming forward. Next slide. So what are we forecasting for the counties? Next slide. Really, it's this idea behind things is that we've got a both two models that we run one is an economic model, we really are looking at jobs, and what are the jobs that are forecast to grow in your region. And then on the other side, on the right hand side, we've got the demographic components, we look at your current population, age people through time of reply, birth rates and death rates. And so that population side is our labor supply. That job side is our labor demand. And then where there's not equilibrium, we ended up bringing in net migration to fill that next slide. So I've said it now probably a gazillion times, just keep an eye on job growth, job growth really does equal population growth. And so when people come in and say, yeah, no, we're going to cut we're not going to build homes anymore. But we're going to build, we're going to allow more commercial and industrial growth doesn't make a lot of sense, right? Because a job is a person and a housing unit is where that job sleeps at night. So it's having to look at all of those bundled together. We are seeing a slowdown in growth. But it's not going to impact especially Weld County as much but it is going to slow things really for the state as a whole.