| john phoenix is one of the fastest | 3.52 | Jump to 0.799 |  |  | 
              
                
                  | just announced its purchase of 7 000 | 4.32 | Jump to 9.04 |  |  | 
              
                
                  | acres 30 miles outside the city for a | 5.04 | Jump to 11.28 |  |  | 
              
                
                  | master-planned community of 100 000 | 5.12 | Jump to 13.36 |  |  | 
              
                
                  | homes and 55 million square feet of | 4.0 | Jump to 16.32 | 
                      
                        
                      
                        QUANTITY
                      
                      
                        55 million square feet
                      
                     |  | 
              
                
                  | i want to ask first we see huge demand | 4.88 | Jump to 27.76 |  |  | 
              
                
                  | of these hundred thousand homes do you | 4.56 | Jump to 32.64 | 
                      
                        
                      
                        CARDINAL
                      
                      
                        these hundred thousand
                      
                     |  | 
              
                
                  | with 37 000 acres this community is | 5.36 | Jump to 42.64 |  |  | 
              
                
                  | roughly three times the size of the | 3.76 | Jump to 45.84 |  |  | 
              
                
                  | those hundred thousand homes 300 000 | 4.4 | Jump to 49.6 | 
                      
                        
                      
                        CARDINAL
                      
                      
                        those hundred thousand
                      
                     |  | 
              
                
                  | residents and 55 million square feet of | 4.08 | Jump to 51.76 | 
                      
                        
                      
                        QUANTITY
                      
                      
                        55 million square feet
                      
                     |  | 
              
                
                  | 300 000 residents but one and a half | 5.359 | Jump to 60.8 |  |  | 
              
                
                  | and we'll be selling our first thousand | 5.201 | Jump to 66.159 |  |  | 
              
                
                  | phoenix of 630 000 housing units and | 6.08 | Jump to 124.0 |  |  | 
              
                
                  | less than 40 000 finished lots on the | 4.64 | Jump to 127.52 |  |  | 
              
                
                  | higher gross margins in 2020 than 2019 | 5.28 | Jump to 138.319 |  |  | 
              
                
                  | i don't see that subsiding we see 2022 | 5.519 | Jump to 148.72 |  |  | 
              
                
                  | in the past two cycles where we saw | 4.24 | Jump to 196.8 |  |  | 
              
                
                  | year from now two years from now move | 3.92 | Jump to 208.879 |  |  | 
              
                
                  | of 2019 that can pause home sit and for | 6.56 | Jump to 222.959 |  |  | 
              
                
                  | 60 days home sales really cooled off | 5.04 | Jump to 226.64 |  |  | 
              
                
                  | february of 2020 we saw that demand come | 5.04 | Jump to 233.68 |  |  | 
              
                
                  | throughout 2022 i think we'll see more | 4.719 | Jump to 242.72 |  |  |