DussaultCapital

Toll Brothers Remains Surprisingly Unscathed

I mostly agree with this article except for the comment about homebuilders being responsible for overbuilding. A credit bubble of easy money and artificial speculative demand are the cause of our current oversupply. The homebuilders were just supplying the product that their customers wanted. Of course they made tons of mistakes along the way like getting caught at the top of the bubble with lots of land and spec homes, but you can hardly fault them from building homes when there were people with money (loans) who wished to buy them. That's their job!