Note 8 - Capitalization of Interest (Tables)

6 Months Ended

Jun. 30, 2012

Schedule of Capitalized Interest [Table Text Block]

	Three Months Ended June 30,						Six Months Ended June 30,
	2012			2011			2012			2011
	(Dollars in thousands)
Total interest incurred (1)	$	35,305		$	35,353		$	70,620		$	70,207
Less: Interest capitalized to inventories owned		(31,876	)		(26,186	)		(62,868	)		(48,896	)
Less: Interest capitalized to investments in unconsolidated joint ventures		(1,812	)		(1,723	)		(3,605	)		(3,352	)
Interest expense	$	1,617		$	7,444		$	4,147		$	17,959
Interest previously capitalized to inventories owned, included in cost of home sales	$	24,465		$	16,108		$	43,021		$	27,088
Interest previously capitalized to inventories owned, included in cost of land sales	$	―		$	38		$	19		$	38
Interest previously capitalized to investments in unconsolidated joint ventures, included in loss from unconsolidated joint ventures	$	231		$	121		$	435		$	258
Interest capitalized in ending inventories owned	$	208,354		$	169,705		$	208,354		$	169,705
Interest capitalized as a percentage of inventories owned		13.0	%		12.3	%		13.0	%		12.3	%
Interest capitalized in ending investments in unconsolidated joint ventures	$	12,281		$	7,571		$	12,281		$	7,571
Interest capitalized as a percentage of investments in unconsolidated joint ventures		14.4	%		9.2	%		14.4	%		9.2	%