M.D.C. Holdings says Q1 may miss analysts' targets Wed Mar 2, 2005 12:13 AM ET NEW YORK, March 2 (Reuters) - U.S. home builder M.D.C. Holdings Inc. (MDC.N: Quote, Profile, Research) said on Wednesday that construction and development delays may cause its first-quarter earnings per share to miss the low end of analysts' estimates of earnings of $1.80 per share. The company said approximately 200 home closings scheduled for the first quarter may be delayed to later periods.
There may be a housing bubble, but not with new houses. Everyone today wants a new house- they are MUCH nicer than older homes, made for the way people live today. I live in Royal Oak, and there are tons of older homes. The only way to get a decent home in this town is to completely renovate one of these old bungalows.
So in terms of a bubble, there may be, but not in new homes. the demand is incredible. Pulte sells them as fast as they can make them. I recently looked at a development in northville, mi by pulte, unbelieveable. Selling them as fast as they build.