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Toll Soils the Sheets

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February 06, 2008 – Comments (1) | RELATED TICKERS: TOL

Who could have guessed it? Q1 revs down 22%, but this is what's much, much better: Gross signed contracts for FY 2008's first quarter of approximately $573.2 million and 904 homes declined 46% and 38%, respectively...

That's really not fair. Far better that all of America sucks it up and guarantees $730K jumbos so that Bobby Toll can retire in higher style.

1 Comments – Post Your Own

#1) On February 06, 2008 at 8:39 AM, TMFBent (99.81) wrote:

Oops, posted too soon. Check out this delusional garbage from Bobby Toll:

However, buyers seem to be hiding. We think that the market's problem is a lack of confidence, not just regarding the direction of home prices, but, more broadly, in the direction of the overall economy and the state of the nation.

Yeah, either that, knucklehead, or a return to rational lending, where people have to prove income and come with down payments, spells the end of your high-end, Ponzi-scheme dependent free-for-all.

Memo to Bobby Toll: People can't afford your houses no matter where interest rates go. They couldn't afford them before, either, which is why all those crummy loans are heading south.

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