Carolinas not falling and Ohio never went to bubble levels.I believe MHO has the capital now for share buybacks and to buy some land when market bottoms in some areas that they can make a return.I hope.
Why would they buy back common shares when they can buy the pref for half-price and save themselves an 18% divy???
You are right. They should do a tender for some PRef shares as well.
You are so wrong. Look at the lots that they own. Still loaded up in Florida and the prices there are falling everyday.Ohio land is also worth half of what they have on the books.The difference in Ohio is that there is no one to sell to.They will not be buying back any stock or buying any land anytime soon.
They just sold out of florida. Columbus their home market not crashing. Inventories down last month.How could ohio land be 50 cents on dollar when home prices there never went up much and havn't fallen much?