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Strategies & Market Trends : Three Amigos Stock Thread

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To: James Wright who wrote (5171)	5/25/1998 4:10:00 PM
From: Cary C	Read Replies (2) of 29382

Jim a couple of thoughts regarding DHI and interest rates. With the CON merger included, DHI has over 1 Billion in back log of Booked orders. Short term I would be surprised if it would have an effect on their actual business. When real estate was going real strong in California (7 to 10 yrs ago), interest rates were higher than they are now. Although the initial reaction might be unfavorable, I don't believe that interest rates will hinder the housing market. It is quite possible that we might see an increase of homes sales. People fearing that rates are going to go up may want to buy now so they can have a lower interest rate. I feel the key to the housing market is the current and projected strength of the economy and unemployment. People concerned of keeping or being able to get jobs will way more heavily. I think both are very strong right now and would look for them to continue. On a concern side for me with DHI is the pace in which they are acquiring other home builders. I would like to see them slow this down a little. Management is very crucial when growing at such a rapid pace. So far management has handled it well. There were some concerns on the street when they decided to merge with CON that it would be to big of a step. I believe the majority of the street was in favor of the transaction. Cary

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