Toll Brothers Making Less Money
Toll Brothers reported its latest quarterly results this morning and they ain’t pretty: Revenues at the country’s largest high-end homebuilder fell 41%. Over at Toll’s big Brooklyn project in Williamsburg, Northside Piers, 59 units are in contract and the company recently adopted a rent-to-own program to try to fill the place up.
Toll Brothers reported its latest quarterly results this morning and they ain’t pretty: Revenues at the country’s largest high-end homebuilder fell 41%. Over at Toll’s big Brooklyn project in Williamsburg, Northside Piers, 59 units are in contract and the company recently adopted a rent-to-own program to try to fill the place up.
http://www.nytimes.com/2005/10/16/magazine/16brothers.html?pagewanted=all
Published: October 16, 2005
“Why can’t real estate just have a boom like every other industry?” Toll asked in complaint. “Why do we have to have a bubble and then a pop?”
Wah. Who cares. He should have put his profits in an overseas bank account and got out of the business when the signs first started showing a couple years ago. If Lehman wasn’t too big to fail, neither is Toll. See you in bankruptcy court.
Still hoping someday my kids can buy a home of their own here in Williamsburg. Come on down, prices.
Well duh! Can’t imagine this is a surprise to anyone, including Toll.