Robert Dietz, Chief Economist of the National Association of Home Builders, joins Mark Zandi, Marisa DiNatale, and Cristian deRitis to discuss the outlook for mortgage rates, home sales, and construction activity.  The team delves into the immigration and demographic trends affecting housing demand along with the 5 L's (Laws, Labor, Land, Lending, and Lumber) limiting homebuilding today.  Rob's quoting of Tolstoy catches everyone off guard while the wide-ranging discussion made it difficult for the team to come up with a clever podcast title so we took a cue from Friends. Follow Mark Zandi @MarkZandi, Cris deRitis @MiddleWayEcon, and Marisa DiNatale on LinkedIn for additional insight.