Wednesday, Aug 08, 2007
Some privately-held home builders have recent indicated that they have seen a spike in cancellations over the past 7-10 days,
market watch: Toll Brothers' home-building revenue slips 21%
Hesitant customers remain on the sidelines, unsure of whether home prices have bottomed," said Chief Executive Robert Toll in a statement.
Although the CEO reiterated his view that pent-up demand for homes is rising, he cautioned that "with the uncertainties roiling the mortgage markets right now, the pace of home sales could slow further until the credit markets settle down."
A credit crunch has hit the market on fears problems in the subprime mortgages, which are loans designed for home buyers with shakier credit histories, may spread.
Posted by chris :-)) @ 01:59 PM (104 views) Add Comment
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