Toll Brothers sings a happy tune on housing ... while D.R. Horton says business will "suck"
On the ... er ... slightly more negative side, D.R. Horton just said business would "suck" this year. The quote, from Bloomberg:
"I don't want to be too sophisticated here, but 2007 is going to suck, all 12 months of the calendar year,'' D.R. Horton Inc. CEO Donald Tomnitz said. "Our future is not as bright as what we would like it to be.''
It's worth noting that Toll has been somewhat inconsistent in its market forecasting, to say the least. As Bloomberg puts it ...
"After predicting that the home market was nearing a ``bottom'' in December, Toll last month reversed course as deposits failed to live up to expectations. Today, he tempered his comments by saying the market 'is still beset by speculation'' and that it may take longer in some areas to pare the number of unsold properties."
Personally, I think Horton is on the money -- the housing market will kind of suck this year for all the reasons I've spelled out on my blog.