Toll Never Promised MP Owners A Profit - Did He?

Toll Bros CEO: Housing In 'Depression' But Will Rebound -CNBC

By Dawn Wotapka Of DOW JONES NEWSWIRES The housing market's downward spiral has reached "depression" levels but will eventually rebound, Toll Brothers Inc.'s (TOL) chief executive told CNBC on Thursday. Bob Toll, the luxury-home builder's outspoken chairman and CEO, also said that the home building sector's blood isn't yet running in the street. "It's starting to smell as though it's just around the corner," Toll said, adding that builders with cash will prosper, while "those that are on the edge are going to have severe trouble." The downturn has already forced dozens of companies out of business. Toll Brothers shares were down nearly 4%, compared with about 2.6% for the Dow Jones U.S. Home Construction Index. -Dawn Wotapka; Dow Jones Newswires