"What people are most scared of is looking like a schmuck,'' Toll Brothers Holdings Inc. Chief Executive Officer Robert Toll said at a conference in New York last week. "What do I want to buy a home for and next year be looking at 10 percent less asset?'' Mr. Toll thinks people will be afraid of looking like schmucks for another 2-3 years. No word on the role being played by fear of being a putz. [Bloomberg via Brownstoner]
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