One year ago, Toll Bros. CEO Robert Toll was blissful. He had a 12-month backlog of orders worth almost $6 billion and the past years’ best performing stock in the Standard & Poor’s 400 Midcap Stock Index.
At that time, housing was still *hot*, and a few economists were warning about all the problems that would result from a 1% federal funds rate and economic growth fueled by construction, real estate, and the housing ATM.
I posted this just to take a walk down memory lane. How quickly this all changed.
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