clock menu more-arrow no yes mobile

Filed under:

Toll Brothers: "I think I can, I think I can"

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]