<ARTICLE>                     5
<MULTIPLIER>                  1,000
<CURRENCY>                    U.S. DOLLARS
       
                              
<PERIOD-TYPE>                 12-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               DEC-31-1996
<EXCHANGE-RATE>                                      1
<CASH>                                      15,567,918
<SECURITIES>                                 4,696,495
<RECEIVABLES>                                2,623,502
<ALLOWANCES>                                         0
<INVENTORY>                                 35,991,142
<CURRENT-ASSETS>                            59,425,057
<PP&E>                                         673,000
<DEPRECIATION>                                (404,904)
<TOTAL-ASSETS>                              72,820,730
<CURRENT-LIABILITIES>                       20,994,715
<BONDS>                                     24,880,951
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                        45,806
<OTHER-SE>                                  26,899,258
<TOTAL-LIABILITY-AND-EQUITY>                72,820,730
<SALES>                                              0
<TOTAL-REVENUES>                             2,243,835
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                             1,683,407
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                             237,945
<INCOME-PRETAX>                                322,483
<INCOME-TAX>                                    26,562
<INCOME-CONTINUING>                            295,921
<DISCONTINUED>                                       0
<EXTRAORDINARY>                               (148,433)
<CHANGES>                                            0
<NET-INCOME>                                   147,488
<EPS-PRIMARY>                                     0.04
<EPS-DILUTED>                                     0.04