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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Ramsey Su who wrote (74602)12/2/2006 7:29:39 PM
From: ild  Read Replies (2) of 110194
 
I had lunch with an elite insider from one of the country's largest home builders, a few days ago. I drove to the meeting; he came by private jet. I chided him about his company's huge land write-downs. He said all that will be history as of 2007. From here on, he stated, his company will pay very little for options on tracts of land, buy nothing it hasn't already 'sold', build nothing over $300,000, and concentrate its building in the southern coastal states (excluding Florida). He expects his company's stock to be very strong in 2007.

I talked to him about a townhome I contracted for in a new town center project at a South Carolina beach. He informed me that his company had taken down a huge tract of land in that same project, and then sold half of it for double what it had paid. The company that bought it from his company, then sold it for double what it had paid. This was all in the last year.


Lifted from comments on CR blog
calculatedrisk.blogspot.com
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