After all these builders were incahoots with the banks to build and finance McMansions...NOW they are talking about the success of there strategy of building SMALLER houses. Talk about closing the barn door after the horses have left.

M.D.C. Holdings Announces Third Quarter 2009 Results
- Diluted loss per share narrowed to $0.69 vs. $2.55 in Q3 2008
- Total revenue of $203.2 million vs. $362.7 million in Q3 2008
- Quarter-end cash and investments of $1.60 billion
- Net orders for 1,016 homes vs. 667 in Q3 2008
- 1,298 units in backlog with an estimated sales value of $383.0 million

DENVER, Oct. 30 /PRNewswire-FirstCall/ -- M.D.C. Holdings, Inc. (NYSE: MDC - News) today reported results for its third quarter ended September 30, 2009. The Company announced a net loss for the quarter of $32.0 million, or $0.69 per diluted share, which included a pre-tax charge of $1.2 million for asset impairments. The 2009 third quarter net loss also included an $11.8 million increase in our deferred tax valuation allowance. The net loss for the 2008 third quarter was $118.0 million, or $2.55 per diluted share, which included a pre-tax charge of $95.4 million for asset impairments and an increase in our deferred tax valuation allowance of $61.1 million. Total revenue for the third quarter of 2009 was $203.2 million, compared with revenue of $362.7 million for the same period in 2008.