Forward-Looking Markets?

Some of the Toll Brothers houses

They say that the markets are forward-looking, 6 months into the future.

There are 7 million unsold homes in the U.S.A. right now. Is this expected to correct in the next 6 months?

19-Sep-08 Price hit new 52-week high ($28.00)

New 52-week high for [[TOL]]! A luxury home builder with -$1.90 earnings per share. Either the specialist is holding this up, or some tax breaks are expected/built-in.

(After browsing the TOL web site I suddenly feel very sad (well, sadder) about what’s happening with the economy.)