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Daily Real Estate News  |  June 9, 2006  |   Pent-Up Demand Will Reverse Market, Toll Says Pent-up demand is going to turn around the housing market, insists CEO Robert Toll of Toll Bros. He said demand will be driven by buyers who are biding their time waiting for better incentives or lower prices. "Once the natural balance is restored in the market, you're going to see prices go up again. Prices are going to go up quite a bit," he said. He added that mortgage rates aren't a major factor in the housing slowdown because they still hover near four-decade lows. "We did business when mortgage rates were at 8.5 percent and it was fabulous. Now it's 6.5." Toll also expressed confidence in the second-home market, which he says will stay robust as baby boomers relocate to Sun Belt states and urban centers. Toll told analysts viewing his company’s declining stock prices to hang in there. "Right now we've got a pretty great economy out there," he says. "Jobs are growing every day. Sooner or later, it will back itself into homes." Source: Philadelphia Inquirer, 06/09/2006

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