Cendant Sees the Future and It is Not Good
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Cendant Corp announced today that their income will be down from 200 to 400 million from previous projections due to the housing slowdown. They had projected revenue of 7.3 to 7.5 billion in their real estate division but now have revised the number down to 7.1 Billion dollars.
This is just another indicator that the real estate market is facing a slowdown. But that they are expecting sales volume of such a high number does not mean the industry is completely falling apart.
Citing “current trends and leading indicators” that point to a decline in sales of existing homes, Parsippany-based Cendant lowered revenue forecasts for its real estate division to $7.1 billion.
In earlier forecasts, Cendant projected 2006 revenue for the real estate division at $7.3 billion to $7.5 billion and EBITDA in a range of $1.09 billion to $1.14 billion.
The real estate division, which includes the Century 21 and Coldwell Banker brands, is scheduled to be spun off and renamed Realogy Corp. by the end of June as part of Cendant’s strategy to split into four companies.
The revision, Cendant said, is based on several recent reports, including a National Association of Realtors survey last week showing that sales of existing homes fell 2 percent in April as mortgage rates hit a four-year high. Cendant’s announcement comes on the heels of similar revisions by the nation’s biggest home builders.
Am I the only one that finds it odd that the ONLY place that looks to be seriously warming is ...
It seems there are numbers posted about how much it could cost the US in home sales from people holding ...
The only people holding off will be those that are financially secure and can manage to hold off. How ...
What an awesome way to generate traffic for a story. Were they trying to time that for Sweeps Week? ...
That's awful. I wonder if using that tactic , if a building can be sold or used as collateral. ...
Good point about people possibly holding off now. The 4.5 percent interest rate could be a self-fulfilling prophecy. 
wow this is a wonderful creation...............i would like to be there once even in my life time........... 
Absolutely agree with Jon, excellent site and very imformative. Keep reporting to us please! 
I will say that had I never been to that site and seen Dean's many deals that he documented and ...
Great Real Estate
post ... very interesting. 
