Why do you think the P/E’s are so low for LGIH and other home builders (like DHI) who have been growing rapidly?
Hi Bear, I don’t know anything about DHI, but with LGIH, the fear has been that low oil prices must be making people reluctant to buy houses in Texas where LGIH has built 50% or so of their houses. Since they sold a lot of houses in the fourth quarter in spite of oil prices being low now for a year and a half or so, that prediction may not pan out. But who knows?
Saul.