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Home building is heating up as is the competition for the old line builders trying to overcome their late 80's failures. US Homes is still shakey after BK. with Centex and Pulte at 15 PE's the market range is 12 (MDC Richmond) to 16 (Kaufman & Broad) for most of the larger builders. Ryland is the only exception with a 23.63 PE (trailing) and a 22 (based on estimated 1997 year end EPS). An aggressive stock buy back has doubled the stock in 6 months but the earnings are still weak.

There are some smaller builders in local markets that are in the 3 to 8 PE range and could make dramatic jumps if they are positioned in their market.

If anyone knows of a local builder making the turn please reply. Cal. TX, Colo are on the move what about the east coast?
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