Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012
Operating Activities:
Net income	$ 247,425	$ 12,903
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Stock-based compensation expense	5,214	7,721
Depreciation and amortization	2,072	2,656
Write-offs of land option deposits	499	311
Amortization of discount (premiums) on marketable debt securities	1,423	(151)
Deferred income tax benefit	(187,643)
Net changes in assets and liabilities:
Restricted cash	(820)	(1,593)
Trade and other receivables	(8,566)	(18,345)
Mortgage loans held-for-sale	27,490	12,648
Other assets	(8,383)	3,956
Accounts payable and accrued liabilities	(30,358)	9,643
Net cash used in operating activities	(146,243)	(15,590)
Investing Activities:
Purchase of marketable securities	(312,095)	(292,788)
Maturity of marketable securities	87,015	106,000
Sale of marketable securities	137,067	225,701
Purchase of property and equipment	(998)	(668)
Net cash provided by (used in) investing activities	(89,011)	38,245
Financing Activities:
Payments on mortgage repurchase facility	(135,559)	(90,409)
Advances on mortgage repurchase facility	108,080	74,367
Dividend payments		(23,990)
Proceeds from issuance of senior notes	346,938
Proceeds from exercise of stock options	5,118	140
Net cash provided by (used in) financing activities	324,577	(39,892)
Net increase (decrease) in cash and cash equivalents	89,323	(17,237)
Cash and cash equivalents:
Beginning of period	160,095	343,361
End of period	249,418	326,124
Housing Completed or Under Construction [Member]
Net changes in assets and liabilities:
Housing completed or under construction	(56,087)	(136,387)
Land and Land Under Development [Member]
Net changes in assets and liabilities:
Housing completed or under construction	$ (138,509)	$ 91,048