Solid Second Quarter ResultsI see a book value of $2.89 per share and P/E well below 6. There is a lot of talk about weakness in the Calgary real estate market, but GDC continues to grow revenues and earnings.
One possible cause for concern is the statement that home sales in this quarter were mostly closed in 2007, before inventories of houses on the market started to rise and prices started to fall a bit. But, the macro economic picture in southern Alberta still looks good...