A vertically-integrated home development company engaged in the development, construction and sale of affordable entry-level, middle-income and upper-income housing in Mexico.
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P/E at an all time low, which is even more notable given that earnings took a freak hit in Q3 due to the collapse of the peso.But most of this homes this company builds are bought with mortgages provided by a Mexican government program which is likely to be stepped up to fight the recession. The market is pricing WAAAYYY too much pessimism about 2009 and 2010 into this stock.