Foreclosure Bus Tours Killing Toll Brothers; Developer Wants Practice To Stop

In Palm Beach County, Florida, a Palm Beach Post blog reports:

• High-end homebuilder Toll Brothers has been an especially creative player in the blame game. Robert Toll never misses a chance to blame the nattering nabobs of negativism in the media, rising oil prices or nasty-NIMBY local politicians for the housing downturn. In today’s quarterly earnings call, he found a new scapegoat: Realtors and investors leading foreclosure bus tours, something that has become common practice in South Florida.

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• To his credit, Toll did eventually get around to pointing the finger of blame at his own company. “We bought our own BS,” he said of the outlandish expectations that accompanied the peak of the housing boom.

For more, see Toll Brothers: Stop those foreclosure bus tours! You’re killing us!