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Fearful.
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February 28, 2008 at 10:21 AM #161787February 28, 2008 at 11:14 AM #161907
Raybyrnes
ParticipantI think you can now add into the mix that builders are able to carry abck their losses that they are taking right now against the gains they had during the boom time and thsy are profitting from the tax loop holes. Addionally the 60% write downs they are taking on the land is back room accounting. What they are doing is selling the land back to the bank at a huge loss but with a contract to repurchase at a future date at or around the price they sold.
February 28, 2008 at 11:14 AM #162202Raybyrnes
ParticipantI think you can now add into the mix that builders are able to carry abck their losses that they are taking right now against the gains they had during the boom time and thsy are profitting from the tax loop holes. Addionally the 60% write downs they are taking on the land is back room accounting. What they are doing is selling the land back to the bank at a huge loss but with a contract to repurchase at a future date at or around the price they sold.
February 28, 2008 at 11:14 AM #162217Raybyrnes
ParticipantI think you can now add into the mix that builders are able to carry abck their losses that they are taking right now against the gains they had during the boom time and thsy are profitting from the tax loop holes. Addionally the 60% write downs they are taking on the land is back room accounting. What they are doing is selling the land back to the bank at a huge loss but with a contract to repurchase at a future date at or around the price they sold.
February 28, 2008 at 11:14 AM #162235Raybyrnes
ParticipantI think you can now add into the mix that builders are able to carry abck their losses that they are taking right now against the gains they had during the boom time and thsy are profitting from the tax loop holes. Addionally the 60% write downs they are taking on the land is back room accounting. What they are doing is selling the land back to the bank at a huge loss but with a contract to repurchase at a future date at or around the price they sold.
February 28, 2008 at 11:14 AM #162304Raybyrnes
ParticipantI think you can now add into the mix that builders are able to carry abck their losses that they are taking right now against the gains they had during the boom time and thsy are profitting from the tax loop holes. Addionally the 60% write downs they are taking on the land is back room accounting. What they are doing is selling the land back to the bank at a huge loss but with a contract to repurchase at a future date at or around the price they sold.
February 28, 2008 at 12:27 PM #161993gn
ParticipantBugs,
Thanks for sharing your knowledge with us. A question for you:
When home prices went up during 2002-2005, land prices also went up. I think land prices went up even more dramatically than home prices. Did the builders in Del Sur purchase their land in 2004 ? Or did they buy their land a long time ago (so, their costs is still low) but they just don’t want to lower their sale prices ?
February 28, 2008 at 12:27 PM #162389gn
ParticipantBugs,
Thanks for sharing your knowledge with us. A question for you:
When home prices went up during 2002-2005, land prices also went up. I think land prices went up even more dramatically than home prices. Did the builders in Del Sur purchase their land in 2004 ? Or did they buy their land a long time ago (so, their costs is still low) but they just don’t want to lower their sale prices ?
February 28, 2008 at 12:27 PM #162285gn
ParticipantBugs,
Thanks for sharing your knowledge with us. A question for you:
When home prices went up during 2002-2005, land prices also went up. I think land prices went up even more dramatically than home prices. Did the builders in Del Sur purchase their land in 2004 ? Or did they buy their land a long time ago (so, their costs is still low) but they just don’t want to lower their sale prices ?
February 28, 2008 at 12:27 PM #162303gn
ParticipantBugs,
Thanks for sharing your knowledge with us. A question for you:
When home prices went up during 2002-2005, land prices also went up. I think land prices went up even more dramatically than home prices. Did the builders in Del Sur purchase their land in 2004 ? Or did they buy their land a long time ago (so, their costs is still low) but they just don’t want to lower their sale prices ?
February 28, 2008 at 12:27 PM #162322gn
ParticipantBugs,
Thanks for sharing your knowledge with us. A question for you:
When home prices went up during 2002-2005, land prices also went up. I think land prices went up even more dramatically than home prices. Did the builders in Del Sur purchase their land in 2004 ? Or did they buy their land a long time ago (so, their costs is still low) but they just don’t want to lower their sale prices ?
February 28, 2008 at 2:04 PM #162048gdcox
ParticipantGraham
I believe that US builders revalue their land every year so they would not suffer form historic cost illusion.February 28, 2008 at 2:04 PM #162444gdcox
ParticipantGraham
I believe that US builders revalue their land every year so they would not suffer form historic cost illusion.February 28, 2008 at 2:04 PM #162375gdcox
ParticipantGraham
I believe that US builders revalue their land every year so they would not suffer form historic cost illusion.February 28, 2008 at 2:04 PM #162358gdcox
ParticipantGraham
I believe that US builders revalue their land every year so they would not suffer form historic cost illusion. -
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