Jessica Hansen: Sure. I’ll start, Ken, and then I’m sure Mike or someone is going to chime in on the true ops piece of it. But in terms of the 53% that we said in our scripted remarks of our option lots that we expect to be purchase-finished, that’s just at a point in time. So that’s where we’ve already determined who’s going to develop those lots for us, and we know we’re going to take them down as a finished lot. That’s by no means a ceiling. We’re now closing 60%-plus of our houses quarter-to-quarter on a lot purchased from a third-party developer. And so, we — in the normal course of business, we’ll contract with a land seller as D.R. Horton, put the option [on the] (ph) contract and then we’ll go find a land developer. So, the 53% is more of a floor than necessarily a ceiling.
Mike Murray: I think you said it very well. We’re going to take a piece of dirt and title it, and then, in that process, look to work with a third-party developer in some cases to assign that contract to. They’ll acquire the land parcels and then they’ll complete the lot development and sell us finished lots that we’ll then start constructing homes on over time. So that 53% expected would go up, but we will choose, in some cases, to develop the neighborhood ourselves. In every one of our markets, we have great teams in place that are capable of developing their own lots, as well as negotiating to buy finished lots from third-party developers.
Bill Wheat: And Ken, to circle back to your initial comment about capital and cash flow and percentage of cash flows relative to our earnings, we are seeing a big improvement in that this year, and that’s what we’re expecting to see this year. I would tell you that, that big move is being driven primarily by the improvement in our cycle times — by our construction cycle times. We don’t have as much capital tied up per home in our homes in inventory, because we’re turning those faster. Definitely, our land shift over many years has been a component of that over time. But this year, specifically, it’s more about our homes and inventory turnover improving.
Ken Zener: Great. And so, I guess, just a follow-up to that, why would you want to develop land as opposed to, like, other builders or one specifically that is [indiscernible] of that? And then the other question, which I’m still struggling with when I just try to normalize housing is your starts pace or your pace per community is about 4.6 this year. It used to be about 3.6. Why is that the new normal, basically? I mean, I don’t want to push down sales pace for no reason. But like, why are we so far above where we used to be as an industry? It’s not just you guys. If you could explain that? Thank you.
Paul Romanowski: Yeah. I think on the lot development question, we have talented teams across our platform. And there are instances where it’s important to us in our starts pace is we have to have a lot on the ground. And so, controlling that process and being good at producing that lot is a talent that we’re going to retain, and we have to continue to exercise that in order to do so. And some deals just make more sense for us to develop from a timing perspective and/or structure and/or size. And so, we’re going to make that decision community-by-community across the platform. In terms of our absorption per community, I just — I think that you’ve seen some larger communities that may be a portion of that impacting sales and positioning of those communities to drive more efficient activity, both on the construction and sales side.
