DR Horton commentary from Citi investor conference

[heavyd]

This is kind of refreshing…

“…2007 is going to suck, all 12 months of the calendar year…” — CEO Donald Tomnitz

HD

[hipmatt]

I’m glad he said this, but right after this he said he expects sales to take off again in 2008!!! LOL

[Cow_tipping]

But … if it crashes and burns in 07, say 50% to 80% declines YOY in the bad markets, they can take off in 08, till ~2013-14 when baby boomers dump their built in the 70’s shitboxes on the market and it dies again. Just the ticket for squeezin in another boom bust in the time we have.
Cool.
Cow_tipping.

[no_such_reality]

Meanwhile, Greenspan calls the bottom…

http://news.yahoo.com/s/nm/20070307/bs_nm/usa_economy_housing_greenspan_dc_1

Anybody have that in context? I’m guessing he’s talking about volume and not pricing.

[JWM in SD]

Volume always precedes price, always.

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