hey guys, let me warn you once again: you better cover your short positions! NOT ALL BUILDERS ARE THE SAME! I was trying to warn your colleagues on LULU board that not all clothing companies are the same when it was 5-6 dollars. CHeck it now at 27 :-)
YOU ARE CLUELESS. The entire house of cards is about to come down again and MTH has fixed the books. The mm where just handing off the bag today, this stock will be at $12 within 2 weeks. Your retail will abolutely implode atfer the holidays. Thank for letting me know they wher at $27, I will short them to when they go down.
Hey Hebert i wonder if you are still around. You and I are the only ones on this message board with a clue. I cannot believe MTH's quarterly report in the least, as far as I am concerned it's a complete fraud. KBH is being investigated by the SEC for fraudulent acounting practices and I think MTH needs a audit as well, therefore I am going to call the SEC Enforcement Division in Washington and tell what is going on here.
I have been instrimental in helping the SEC shutdown 2 penny stock scams, via phone calls, sending examples of securities violations that where directly in the 10Q, 10K and 8K's. I am going to rummage through MTH's books and get on the pnone.
The only thing that MTH is doing here is creating a few soon to be bagholders. The housing market is about to implode and thiss time the collaspe will be much, mucch worse than the first sending the Dow to new lows. When the $8,000 dollar tax rebate is gone at the end of the month, watch out below, all these housing stocks fall off the cliff.
The tax rebate end and starting in Nov. the ARM's that where written in 2006,2007 are going to start to reset enmass. This will send housing values down another 10%/15%(more in some areas) and place millions more houses on the auction block. Meritage is flat out lying about their situation, somehting that countrywide and many other did before they collasped completely.
Excluding Florida, they are in the hardest hit area of the country, the default rates there are actually higher than Detroit. After I scour the SEC filings, I will make a call to the SEC Enforcement Division, send them any disrepancies I might find. It is time for fraud to stop, I watched (and shorted) many mortgages lenders(more than 180 publically traded went bankrupt and delisted), toward the end, when bankruptcy was around the corner, most would put out frauduent claims or accoutning practices. Do different here, this co. will not sirvive the next leg down. Get out while you still can.
Oct. 1 (Bloomberg) -- Drive up to the Peaks Corporate Park in north Scottsdale, Arizona, and the only person you’ll encounter at the luxury office complex is a security guard.
The development was planned to offer executive suites with views of the McDowell mountains, neighbors such as General Electric Co. and a location just minutes away from Jack Nicklaus’s Desert Mountain golf courses. Plans to lure tenants haven’t materialized and today the complex in this city next to Phoenix is empty, the entrance blocked by a traffic barricade.
Delinquencies in the Phoenix area on loans backed by office, industrial, retail and apartment properties have risen more than five-fold since March, according to data compiled by Bloomberg. The Phoenix region has the second-worst U.S. delinquency rate, behind Detroit’s 10 percent. In Phoenix, the economic recovery looks a lot like a recession.