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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From: Travis_Bickle	12/6/2006 9:49:56 AM
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Meritage Homes Corp. Chief Executive Steven Hilton said Wednesday he expects the housing market to remain "tough for at least the next couple of quarters." The home-builder CEO, speaking during a Webcast of the New York Society of Securities Analysts Homebuilding Conference, said the market needs to work its way through the oversupply of speculative and resale homes, and will improve when "expectations become more realistic" on the part of buyers and sellers. He said expansion plans "are on hold now," but that the company next year could buy land or pursue acquisitions. If Meritage's stock goes down and it doesn't see opportunities for M&A or land purchases, it will buy back shares, the CEO added marketwatch.com

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