"Comstock Homebuilding Cos. of Reston yesterday reported that even though it sold 81 houses in the third quarter, 78 sales were canceled, a net of just three sales in three months and a striking reminder of the building industry's deepening troubles."
from the washington post! that is the single most amazingly awful stat i have ever seen.
you have to be crazy or stupid to buy this stock now. data like this tells us this company has a very real chance of completel collaps!
from the same artical: "Market conditions have continued to deteriorate throughout the year," Christopher Clemente, the company's chief executive, said in a statement.
Reality agents have lost their touch. If they can't feed their families it's because they can't sell a product. It's slow because you aren't selling fine homes to people that need them. But I reiterate that when the media hit's the fan about a subject, the bottom has come and gone. We are now in recovery mode or soon will be. Ground floor purchase here.