Why would anyone buy common in a home builder when you can buy MHO preferred at 50% discount to par? Considering MHO sitting on $100 million cash after the secondary offering (not sure how they pulled that off but yet no one wants to by the preferred). Balance sheet is one of best of the builders now and orders last 2 quarters have been through the roof.

I have a target of $14-15 on this preferred. But who knows, all these stocks could tank before it gets there.