CEO Speaks: Bubble Busting
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TOLL In the past couple of years we've begun dense suburban developments, and we're back in the cities with low-, mid- and high-rises. There just isn't enough ground left in the suburbs, and you have a whole new thrust from boomers and young hip-hoppers who want to be back in urban areas. Urban developments are less than 5% of our business, heading to 10%. It's definitely caught on. Look at New York. You could have bought the entire meat-packing district for $4. Now you can't get an apartment there for under $1 million.
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