The document discusses the potential for consolidation in the home building industry, with large public home builders taking a greater share of the market. It argues that consolidation is likely to continue and increase in major metropolitan areas that represent the most new home construction, as public builders have scale advantages in access to capital, brand recognition, and land purchasing. The document examines specific major metro areas where public builders already dominate or are gaining market share, noting characteristics like constraints on development that benefit major public builders. It also discusses implications for smaller builders and suppliers if consolidation among public builders continues in more markets.