I hate to bet against the Hortons. They seem like good folks, and it's a family business. The housing crisis has hit them hard, but they have met the streets running. They had a lot of inventory and land, but they seem to be handling it. The cards are just stacked against them right now, even though they sell the more modest priced homes and have a better chance of hitting it out of the starting block once the financials decide to loan at a logical rate. The market will force this in order to kick start the real recovery. Houses down another 15%, new houses will sell, but owner homes will not be selling because of owner debt and equity loss. If Horton starts a wave of sales, they have a good chance of starting a movement. They don't really have debt as far as I know. And they have back up plans in the family. Don't let it go too low before jumping in. This will be the new housing boom when rates meet price and security of debt. It may be that foreign investment will take the first step in a rush. A block of 10,000 homes in one contract would put anyone on the map of recovery. Think of it. Homes instead of hotels in the States! runningturtle87
$12.2 (06/22/08)
