Go ahead. Reach out. Grab it. Hold on tight. Really tight.
Just try not to get blood all over the floor.
Worst May Not Be Over For Toll Brothers
Americans keep deciding to cancel orders for their dream homes, hurting the bottom line of homebuilders across the country. Luxury home builder Toll Brothers reported today that its fourth-quarter profit nose-dived more than 40%, due in part to cancellations and some analysts say the worse is yet to come for the softening housing market
Some analysts predict that homebuilders are due for even more disappointing news in the near future. “I think we have only seen the beginning of the pains here for these guys,” said JMP Securities Equity Research Analyst Alex Barron.
Barron argues that homebuilders bought up land at high prices just a few years ago, purchases that will now be coming back to haunt them. “You will start to see lower home prices and higher costs,” he said.
More broadly, Barron doesn’t think we have hit bottom yet in the slumping housing market. There is a glut of housing, he says, an excessive inventory that still must be worked through. “We will hit the bottom a year from now,” he said
December 05, 2006
A quick note to any person out there considering buying a Toll Brothers home today at the new firesale price
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16 comments:
Why do they continue to soft peddle the home sale news. Real estate is like a freight train it doen't just change direction over night, one month or even one year. The knife is truly falling for the next greater fool!!!
what , in the whole country, your the fool if you believe every house is going down, its not happening
I am closing on a Toll House in two weeks! Am I doomed?
Give me a break "Mr. The Sky is Falling." Toll Brothers does not have a history of "firesale" pricing homes. They would rather ride out slower sales levels than compromise their margins or the integrity of their communities.
Look around Phoenix. The biggest incentive I have found for Toll is $50,0000 on $800,000 product. Most of their $1m plus projects aren't offering any incentives other than a token offering to use their in-house lender.
Learn something about the industry instead of just "yelling fire" all the time.
the last anon post is so rich it deserves its own thread. which I've now done.
oh, man, people are dumber than even I ever suspected
and the TOL stock keeps going up!!!
just like KBH and Pulte....
Of course, Toll brothers is right. There will probably be a slight suckers rally early next year followed by the real crash...
If there is a glut of housing, why am I unable to find any I can afford to buy, and why are rents here going up and up?
TOL beats anal-ist lowered earning estimates ????
Year/year earnings and order cancellations were skyrocketing !!!
I disagree, I think we'll hit bottom in the 2009 - 2011 range. Unless, of course, Peak Oil ends up happening sooner, and pushes us to a bottom nobody living has seen before.
-Dragasoni=
Peak oil will do that but later. Those born today are so totally screwed.
I can't believe that POS went UP today.
how about a pool to pick some TOL puts? strike prices and dates and such.
silver hit 50 in the 1970s and is 14 today, up from 3, a real deal!!??, sat a 3 for what seemed a lot of years
can i put a million gallon tank of fermenting sewer water in scottsdale, while i wait for it to turn into methanol, ala cow farts, for fuel ala global warming? how about one per household?
while i wait for my gasoline powered fusion smelter to make synthetic molded paper, glass thread, wood, plastic, cloth and all non electron carrying capacitors, and my genome alterists to splice giganticism and mass reproduction, into my food stuffs, and quadruple my lifespan, lifespans?
gold could go bubble high high
especialy if all your synthetics are made from common dirt
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