Galapagos Islands Message Board

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Strategies & Market Trends : Galapagos Islands

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To: MulhollandDrive who wrote (48325)	10/23/2003 5:04:49 PM
From: HoodBuilder	Read Replies (1) of 57110

Your observation regarding not quite yet is right on the money. As a builder I can tell you that activity is still very strong in the NE at least. The biggest problem builders are having is the inability to get land through the approval process, hence a limited supply of developable lots. The bubble may burst in the new home market but right now things are still strong. OTOH the market is starting to treat the homebuilders as if they are not cyclical (remember when they did that to tech stocks?) Normalized earnings are well below today's levels IMO and that is more representative of where values should be. Today they're the heros next year the goats!

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