Cal-Bay International Inc (CBYI)

[mordicai]

Something else which is favorable down here in Florida is builders don't own their model homes. They sell them to a third party and then the third party leases it back to the builder for display purposes. Frees up more money for spec homes. Florida homes do not have any basements, just slab, concrete block construction. 1400 sq feet homes 3/2 sell for $200,000 plus. With no hurricane this year, and the little slow down in housing construction, local contractors are going to be lowering their prices to get work. Could be very profitable for cbay. Lot of people from the northeast migrate here and bid up the prices not taking into account the lower wage rate, etc.