Conversation With A Home Builder
The cover story in this month’s Conde Nast Portfolio is a must-read: Bob Toll, mega builder and founder of Toll Brothers, a Pennsylvania-based luxury home builder that reported nearly $16 billion (yes, billion) in revenue during the boom. The article says that between December 2004 and September, 2005, Toll made $323 million by selling company stock shares, those sales now part of a federal shareholder lawsuit. Anyhow, I talked to a Dallas home builder yesterday who is mulling the construction of a 10,000 plus square foot contemporary home on a one-acre lot in Preston Hollow. In other words, a serious spec home done up right — no corners cut. He is concerned that the current economic climate may not be conducive to selling such a home. What do you think, is the party over? Is it time to go home to our 1500 square foot apartments?
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