It is earnings season for a bunch of the homebuilders. Often there is a lot of fluff in the earnings calls but we still like to read the transcripts since there are some occasional interesting points not covered in the 10-Q. Sometimes they talk about local market factors. Obviously California is in there but what happens there can also influence perceptions of Las Vegas. If you are also interested, you can find Lennar's transcript here: http://seekingalpha.com/article/1905761-lennar-management-discusses-q4-20... read more