“Boston is still in the pits…in Florida it’s like death takes a holiday…Las Vegas is now terrible…Michigan may be a situation where it doesn’t come back.”
Robert Toll, chief executive of Toll Brothers, one of America’s biggest builder of luxury homes, has a droll style. But his comments at this week’s Milken Institute Global Conference, a gathering of 3,000 financiers and businesspeople in Beverly Hills, left little doubt about his view of the state of the housing market. True, there were one or two bright spots—the New York market was “phenomenal”; Connecticut had “got a lot better”; Texas was “good”—but Mr. Toll’s overall tour was pretty bleak.
Read it here: http://www.economist.com/world/na/displaystory.cfm?story_id=9090220