“I don’t think I’d say, ‘Wow, I wish we could’ve gone back three years and ratcheted [our land acquisitions] down.’ It’s a bit of a market timing game that I don’t know if any of us are good enough to play.”
–Jim Zeumere, Pulte Homes
“We’ve talked about being very diligent in our process and out thoughts about land. For perspective, we spent about $1.5 billion in land in ’05. This year, it’ll be less than $1 billion. And next year it’s more like to be $600 million.”
–Steve Scarborough, Standard Pacific Corp.
“The foundation of my discipline [in land] came from making a lot of mistakes when I was younger. … Land is part of the housing cycle, and it comes and goes in periods. And you now have as a general statement, a no-bid market for land. … So those that are long on land have the choice of building a product that could be challenging in order to liquefy their balance sheet. And we’re not under those pressures.”
–Larry Mizel, M.D.C. Holdings
