<ARTICLE>  5
<LEGEND>
THIS  SCHEDULE  CONTAINS  SUMMARY  FINANCIAL   INFORMATION  EXTRACTED  FROM  THE
CONSOLIDATED  BALANCE  SHEET  AS OF  DECEMBER  31,  1996  AND  THE  CONSOLIDATED
STATEMENT  OF  EARNINGS  FOR THE SIX  MONTHS  ENDED  DECEMBER  31,  1996  AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER>                       1000
<CURRENCY>                         U.S. DOLLARS
       
                                  
<PERIOD-TYPE>                      6-MOS
<FISCAL-YEAR-END>                   JUN-30-1997
<PERIOD-START>                      JUL-01-1996
<PERIOD-END>                        DEC-31-1996
<EXCHANGE-RATE>                               1
<CASH>                                    1,876
<SECURITIES>                                  0
<RECEIVABLES>                            25,174
<ALLOWANCES>                                  0
<INVENTORY>                             930,250
<CURRENT-ASSETS>                              0
<PP&E>                                   22,109
<DEPRECIATION>                                0
<TOTAL-ASSETS>                        1,044,609
<CURRENT-LIABILITIES>                         0
<BONDS>                                 536,036
<PREFERRED-MANDATORY>                         0
<PREFERRED>                                   0
<COMMON>                                     18
<OTHER-SE>                              280,249
<TOTAL-LIABILITY-AND-EQUITY>          1,044,609
<SALES>                                       0
<TOTAL-REVENUES>                        557,977
<CGS>                                         0
<TOTAL-COSTS>                           454,121
<OTHER-EXPENSES>                         77,620
<LOSS-PROVISION>                              0
<INTEREST-EXPENSE>                            0
<INCOME-PRETAX>                          26,236
<INCOME-TAX>                              9,445
<INCOME-CONTINUING>                      16,791
<DISCONTINUED>                                0
<EXTRAORDINARY>                               0
<CHANGES>                                     0
<NET-INCOME>                             16,791
<EPS-PRIMARY>                              0.94
<EPS-DILUTED>                                 0