Thursday, June 08, 2006
Robert Toll Speaks
Not that i totally disagree. Obviously i believe the home builders are over sold...
AP
Toll Sees Rebound of Housing Market
Thursday June 8, 4:05 pm ET
By Deborah Yao, AP Business Writer
Robert Toll, CEO of Toll Brothers, Says Strong Economy Will Spark Housing Market Rebound
PHILADELPHIA (AP) -- A strong economy will spark a housing market rebound after excess inventory from speculators is shaken out, perhaps very soon, the chief executive of the nation's largest luxury home builder said Thursday.
At a meeting with analysts in New York, Robert Toll of Toll Brothers Inc. said pent-up demand will drive the housing market after the current housing slowdown passes. Demand will be driven by buyers who are biding their time waiting for better incentives or lower prices.
Once they see growth in home prices start to accelerate again, they will come back, he said.
"The next great story is pent-up demand," he said. "Once the natural balance is restored in the market, you're going to see prices go up again. Prices are going to go up quite a bit."
Toll based his optimism on the strength of the economy, but cautioned that it's contingent on the Federal Reserve keeping it healthy.
But I hate it when a CEO spins a tale of bullshit. "contingent on the Fedral Reserve keeping it healthy.." Got news for you folks. The Feds defination of making this a healthy economy is to send interest rates to the moon. Bob Toll knows this. So what is he predicting? Is he predicting anything? After all he knows the ondition of his statement won't materialize.
Never turn to a CEO for advise.
AP
Toll Sees Rebound of Housing Market
Thursday June 8, 4:05 pm ET
By Deborah Yao, AP Business Writer
Robert Toll, CEO of Toll Brothers, Says Strong Economy Will Spark Housing Market Rebound
PHILADELPHIA (AP) -- A strong economy will spark a housing market rebound after excess inventory from speculators is shaken out, perhaps very soon, the chief executive of the nation's largest luxury home builder said Thursday.
At a meeting with analysts in New York, Robert Toll of Toll Brothers Inc. said pent-up demand will drive the housing market after the current housing slowdown passes. Demand will be driven by buyers who are biding their time waiting for better incentives or lower prices.
Once they see growth in home prices start to accelerate again, they will come back, he said.
"The next great story is pent-up demand," he said. "Once the natural balance is restored in the market, you're going to see prices go up again. Prices are going to go up quite a bit."
Toll based his optimism on the strength of the economy, but cautioned that it's contingent on the Federal Reserve keeping it healthy.
But I hate it when a CEO spins a tale of bullshit. "contingent on the Fedral Reserve keeping it healthy.." Got news for you folks. The Feds defination of making this a healthy economy is to send interest rates to the moon. Bob Toll knows this. So what is he predicting? Is he predicting anything? After all he knows the ondition of his statement won't materialize.
Never turn to a CEO for advise.
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