Monday, November 06, 2006

Home Builders report very poor results, media ignores

I'm overwritting my post on how TOL and BZH were going to report this morning and switch to saying they did. Their results were horrible! Toll brothers is reporting a 55% drop in home orders but only a 10% drop in revenue. BZH was just as bad, new orders off 58%.

"We continue to look for signs that a recovery is imminent but can't yet say that one is in sight," Chairman and Chief Executive Robert I. Toll said in a statement.


WCI is in trouble.

Another blogger has written about them:

Basically they are dying in Florida and need to sell units in their towers. Oh boy...

Oh, KB homes is in a dispute with bond holders. It will take 60 days for this to really matter, but its interesting:


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