The s/p moves suggests someone thinks $3+ is a reasonable...

The s/p moves suggests someone thinks $3+ is a reasonable prospect, but only time will tell - I'll stay along for the ride if only because there is so much private equity money chasing deals at the moment and these types of assets are right in their sweet spot.

I was also going through the results and although they weren't great, they weren't as bad as I first thought. Settlements are hugely weighted to H2 so assuming they get a reasonable proportion of these done, we should see a substantially better H2. The rationale for the slow settlements (of retirees taking longer to sell their previous homes) is unlikely to change soon, but presumably they aren't in financial distress so the delays are just that - a delay - rather than a never to be seen again customer which will be the case with a lot of developers in this market.