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Toll Bros Losing Less
Toll Brothers says the Horsham-based luxury homebuilder took a smaller loss in the last three months than it took a year earlier, and the housing market appears to be coming out of a tunnel and into daylight. Writedowns of assets decreased and the value of the company’s backlog increased, but Chairman Robert Toll says the recovery will be gradual because of high unemployment and unstable financial markets. The company says sales improved in many parts of the country, including the suburban corridor between Boston and Washington.