Toll Brothers Inc.'s chief executive claims that there is a "pent-up demand" in the housing market, while noting that we won't see a complete turnaround until the nation's stock of foreclosed homes are sold. An optimistic statement indeed, given that that the nation's largest home builder posted a loss in the last fiscal quarter, slashing prices on properties in order to move them as revenue, stocks, and contracts plunged. The bright side: Only 195 existing contracts went to hell. [NYT]
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