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Telling words from Toll CEO

Telling words from Toll CEO
by Kaushik Sirkar, Chandler AZ REALTOR
Chandler Arizona Real Estate

Surfing the web as I often do, I came across this article today in the East Valley Tribune. Its an article whose focus is to discuss the decrease in Toll Brothers' 3rd quarter revenue. The article actually opens with the following quote from CEO Robert Toll -

"This downturn is very different. It is the first one in my 41 years in the business that's occurred when you have an up stock market, low unemployment, decent job growth and a very decent economy,"

So what we are going through is really something new. Maybe thats why the pundits are having such a difficult time figuring out exactly when things will turn around. I'll be honest...some say 08, some say 09. With as much inventory as there is in the Phoenix metropolitan area, I wouldn't be surprised if we were looking more like '10 or '11.

Unfortunately, I didn't bring my crystal ball with me today.

Thanks for Reading :)

Kaushik Sirkar, Chandler AZ REALTOR
Chandler Arizona Real Estate

Posted by Kaushik Sirkar on 08/09/2007 02:47 AM

Comments (2)

toll brothers, arizona real estate

This post has been included in Arizona Information

2 Comments on Telling words from Toll CEO

AUG

2007

I think it's almost impossible to determine when the turn around will be because of how many economic factors that may come to play a part in it. Such as how much the government continues to spend and the pressures that puts on interest rates. If the Fed can't lower interest rates because it can't afford to not have foreigners buy our debt, then the recovery might very well be postponed.

The other thing that I think is that after basically 10 years of boom times, I don't think that very many people know what a "normal" market is going to look like.

Bob Mitchell

ValueList Real Estate Services, Inc.

The reason the stock market crashes is because of speculation, pure and simple. The housing market has been a speculative market for the past ten years, and everything has been good while the people believed that housing prices would never go down. Supply has exceeded demand and that drives prices down.

Builders kept building when they should have stopped. Now everyone is paying for it.

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