graphrix_IHB
New member
I have to say, that <a href="http://www.tollbrothers.com/homesearch/servlet/HomeSearch?app=IRconfcalls">Bob Toll makes for an interesting conference call</a>. The best part starts with the Q&A at 52 minutes into the call.
When asked about the high cancellation rates in the high-end market, and where geographically that is? His response was California.
The fun starts when he grades the markets. <a href="http://calculatedrisk.blogspot.com/2007/11/toll-current-slump-much-worse-than.html">Hat tip to Brian over at Calculated Risk</a>.
<img src="http://bp2.blogger.com/_pMscxxELHEg/RzN1KE3pFgI/AAAAAAAABJY/v-M1Ttqk3Zs/s1600/TollComments.gif" alt="" />
<em>"The SoCal market is a F. Even in Orange County, we have some neat offerings out there. They have slipped seriously down there."
"Blood in the streets." "Housing purgatory."
</em>I swear, you can't make these things up.
What scares me is they are <em>looking into</em> the distressed debt market. I know there is going to be a lot of opportunity in the scratch and dent market, but is this really a good idea for a Kool-Aid drinking builder?
When asked about the high cancellation rates in the high-end market, and where geographically that is? His response was California.
The fun starts when he grades the markets. <a href="http://calculatedrisk.blogspot.com/2007/11/toll-current-slump-much-worse-than.html">Hat tip to Brian over at Calculated Risk</a>.
<img src="http://bp2.blogger.com/_pMscxxELHEg/RzN1KE3pFgI/AAAAAAAABJY/v-M1Ttqk3Zs/s1600/TollComments.gif" alt="" />
<em>"The SoCal market is a F. Even in Orange County, we have some neat offerings out there. They have slipped seriously down there."
"Blood in the streets." "Housing purgatory."
</em>I swear, you can't make these things up.
What scares me is they are <em>looking into</em> the distressed debt market. I know there is going to be a lot of opportunity in the scratch and dent market, but is this really a good idea for a Kool-Aid drinking builder?