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Beazer Homes: I'll Take One ... Or Not

A fairly remarkable stat from a WSJ story tonight on homebuilder Beazer Homes trying to put recent issues behind it:

Beazer reported that 68% of its prospective home buyers canceled their orders in the company's fiscal fourth quarter, which ended Sept. 30. The cancellation rate was almost double the 36% of customers who canceled orders and gave up deposits in the prior quarter.

Admittedly, that's bad, but I have a hard time imagining how it gets much worse. What, does it go to 90%? 100%? Maybe Herb will tell me.

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