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Major U S Builder Gets Hit With 45% Drop In Orders

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Toll Brothers contracts fall 45 percent
Wed Aug 9, 2006 6:32am ET253
NEW YORK (Reuters) - Toll Brothers Inc. (TOL.N: Quote, Profile, Research), the largest U.S. luxury home builder, said on
Wednesday signed contracts were down 45 percent in the quarter
just ended when compared with a year ago, as the U.S. housing market continued to slide.
For the fiscal third quarter ended July 31 signed contracts fell to $1.05 billion, down from $1.92 billion in the same period last year.
Toll said it expects to close on sales of 8,600 to 8,900 homes for the fiscal year ending October 31, down from an earlier reduced forecast of 9,000 to 9,700 homes.

Merv's speech today on inflation indicated that house prices are going down here too. Merv's said that LONG TERM prices are tied to wage growth. With our Shylocks now loaning 7X salary it is clear that a big disconnect has occured and is unsustainable. Merv could not be trapped by the Journo's to admit it. His response was "We don't know.." He knows allright and he has been told to keep it to himself.

The US market is about 6 month's ahead of us. Same problems, same irrational exhuberance.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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