Tuesday, August 22, 2006

Keep Hearing That Hissing Sound

The trend continues. AP (08.22.06):
"Luxury home builder Toll Brothers Inc. said Tuesday its fiscal third-quarter profit fell 19 percent as a downturn in the housing market resulted in a dip in revenue and caused the company to reduce the number of lots it controls." Home Builder Toll Brothers Profit Falls
Toll has started dumping, too. "The company reduced the number of lots it now controls to about 82,900, down from 91,200 at the end of the second quarter. Toll Brothers said it will continue to reevaluate the lots it controls and may drop options to buy land it no longer considers attractive." Fourth quarter ain't looking so hot, either.


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