your words. not mine. article definitely does not say that.
KB Homes Sees 48% Cancellation Rate
- Thread starter ByLoSellHi
- Start date
your words. not mine. article definitely does not say that.
in accounting, that four letter word tells you it's a rate to rate comparison. However, had it said orders were down by 48% or the like that would mean last qtrs 9000 orders would =4320 orders this qtr. thus my earlier sarcastic remark about them going bankrupt because last q it was about 53%.
accounting has a lot of spin. that's why there is FASB.(risktaker, that's an acronym, not a word)
Look retard:
This from KB's own site...
"Backlog totaled 17,384 units at November 30, 2006, representing potential future housing revenues of $4.43 billion. This was a 34% decrease from $6.76 billion in backlog value at November 30, 2005. Net orders decreased 38% in the fourth quarter of 2006 to 6,059 from 9,747 in the year-earlier quarter, primarily due to higher contract cancellations by buyers. The cancellation rate in the fourth quarter of 2006 was 48%, up from 31% in the fourth quarter of 2005 but down from 53% in the third quarter of 2006. "
Net orders are NOT sales orders. Their NET orders decreased by 38% but they do not give figure for sales orders/sales orders cancelled. Only the cancellation rate of sales orders.
They're saying they SOLD 38% less houses and that their cancellation rate is at 48% but that's actually LOWER than the previous quarter since it was 53% then! Obviously that tells you cancellation rates have been pretty high for a while. Don't know about '04/'03
You're a %uckin& moron.
This from KB's own site...
"Backlog totaled 17,384 units at November 30, 2006, representing potential future housing revenues of $4.43 billion. This was a 34% decrease from $6.76 billion in backlog value at November 30, 2005. Net orders decreased 38% in the fourth quarter of 2006 to 6,059 from 9,747 in the year-earlier quarter, primarily due to higher contract cancellations by buyers. The cancellation rate in the fourth quarter of 2006 was 48%, up from 31% in the fourth quarter of 2005 but down from 53% in the third quarter of 2006. "
Net orders are NOT sales orders. Their NET orders decreased by 38% but they do not give figure for sales orders/sales orders cancelled. Only the cancellation rate of sales orders.
They're saying they SOLD 38% less houses and that their cancellation rate is at 48% but that's actually LOWER than the previous quarter since it was 53% then! Obviously that tells you cancellation rates have been pretty high for a while. Don't know about '04/'03
You're a %uckin& moron.
Quote from TradinMadMan:
I edited my previous post. it was too garbly
cancellation rate is in the net orders. actual numbers may be very difficult to find right now.
Hey %icktaker, I mean risktaker. why are repeating my comments??
at least you are following my guidance by going to their website. (or did you think it was KinkyBarebackingHome.com?
you have officially dealt with a madman
This link shows the undisputable truth about the 48%.
http://home.planet.nl/~lind0399/kleurboek.html
http://home.planet.nl/~lind0399/kleurboek.html
apologies guys. I took his aggressive name-calling a bit too personal. maybe he has a reputation for doing such.