Living off the land

Sept. 1, 2008
There is so little enthusiasm in the City for housebuilding right now that landbank writedowns are being interpreted positively. After the industry’s biggest player, Persimmon, marked its open landbank down by £40 million – or 1.5% – traders piled into a stock that was one of the most shorted on the entire FTSE 250 in the past few months. Many …

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