The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: John Vosilla who wrote (57494)	7/11/2006 11:03:41 AM
From: Think4Yourself	Read Replies (1) of 306849

I am wondering when the accountants for the homies are going to start forcing them to take land writedowns. Some of the folks on yahoo think they are a buy because they will mark up land values but I don't think GAAP allows that. If I understand the rule right you must use the LOWER of purchase price and current market value. One thing is for sure and that is that this cycle still has a lot of downside left.

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