If they don't sell any f***ing houses, how will they make any profit?? I doubt they can sell 4,000 houses for the rest of this year. Everything they sold in the 1st quarter was contracted months earlier. Now sales are dead...big price cuts next. They have to halt construction now, before it's too late.
The big boys are dumping...they aren't stupid...they know what's coming. Only retail fools hang on and lose it all.
backlog is 8,931 units, say things go to hell and there is a 50% cancellation rate, you still have 4,000. But another 2,000 for each quarter after that, is total 8,000 for the backend, and they already closed 3,600. so worse case 11,600 houses in 2006, not bad after 7 year expansion.