Tuesday, November 11, 2008

Toll Brothers Offers Gruesome 4th Quarter Preview- Toll Brothers, the nation's largest luxury home builder reported overnight that it's 4th quarter sales would drop 41% vs. last year. Cancellations of contracts reached 30%. Bob Toll, the company's CEO noted that demand and traffic had dropped to a record low. Toll insisted that the government must get involved, perhaps by offering a tax credit to new buyers. More:
Toll Revenue Drops 41% as Luxury-Home Demand Slumps (Bloomberg)
Toll Brothers Reports Preliminary 4th Q Numbers (Marketwatch)

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