In a stunning contradiction, Del-Mar based Brookfield Homes reported a steep drop in revenue and lowered earnings guidance for this year based on high cancellations and lower sales in its San Diego markets.
“…the home builder wrote off $57.2 million in the quarter for deposits on land that it now isn’t going to buy.” (I was thinking of my landlord with his entitled lots in LA, and wondering how he’s doing in his escrow. Docteur, you got out just in time.)
They reported selling less than 500 lots this year so far.
BUT, get this: they expect to sell an additional 1,000 lots in the second half of this year.
Since when do sales pick up in the fall???
I know I’ll get blasted for calling them liars, but I don’t care. They are lying.
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