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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: John Vosilla who wrote (57494)7/11/2006 11:03:41 AM
From: Think4YourselfRead Replies (1) | Respond to 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.



To: John Vosilla who wrote (57494)7/11/2006 11:48:42 AM
From: Ramsey SuRead Replies (2) | Respond to of 306849
 
this is like prisoner dilemma, the builders should actually NOT build for a few months to give it chance to settle. but if they all try to beggar their competitor by building and cutting to whatever needed to sell, they will accelerate the downfall.

by the way, Florida is brutal.

MHO is not a condo builder and not really in the frothy South Florida areas. Yet, Fl is hurting just as bad. I have to wonder what WCI is going to report.


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