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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: GraceZ who wrote (6127)	5/11/2004 12:44:35 PM
From: Elroy Jetson	Read Replies (1) \| Respond to of 116555

That's why Ryland and Centex, among others, are borrowing heavily to buy land in California, and other hot markets, after eight years of cautiously buying lots only when they're about to sell a home. Of course this is going to put them into bankruptcy when the buying stops. But that seems to be the natural life cycle of the home builder. They just couldn't stand it anymore not being able to come up with enough lots to make all the potential sales. They're going to solve that problem in spades within six months. It's all too funny if weren't so tragic.