The serious slump in the housing market may be near a bottom, say home builders - though it could take a while before prices rebound.Other news:
Toll Brothers reported a sharp drop in fiscal fourth quarter earnings early Tuesday and forecast a big drop in profits for the coming year. But despite that bad news, chairman and CEO Robert Toll said that the market for new homes may finally be leveling off after more than a year's worth of declines.
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Jerry Howard, CEO of the National Association of Home Builders (NAHB), sounded a similar note in a meeting with CNNMoney.com Tuesday morning. Howard said a turnaround should begin in the first quarter of 2007. "The market," he says, "is at the bottom now."
Larry the used car salesman says that all cars on his lot are fuel-efficient and have absolutely nothing wrong with them. That discontinued Hummer is a total steal! Trust him! It's time to buy!
Larry's public relations / marketing guy agrees. "Now is the time to buy the discontinued Hummer."
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