I see in this story that Toll Brothers has picked up a page from the political handbook -- when things are bad, blame the press. Money quote:
"Perhaps as the presidential campaign heats up and moves to the front page, negative articles about housing will move off the front page,” he said. “Then, hopefully, the positive underpinnings of low interest rates, low unemployment and a decent economy will raise new-home-buyer confidence.”
Just maybe, instead of blaming the media they should look at this article from the same day that shows the insanity of the speculative housing boom, told through the lens of one man who thought he got rich, but actually didn't.
I've written about this before -- understanding the difference between a PR problem ("bad press") and a business problem (bad loans, total disconnect between rental prices/housing prices) is crucial for long term solutions. Bonus points to anyone who can determine if Toll Brothers has a PR problem or a business problem...