<ARTICLE>                     5
<LEGEND>
                              THIS   SCHEDULE    CONTAINS   SUMMARY    FINANCIAL
                              INFORMATION   EXTRACTED   FROM  THE   CONSOLIDATED
                              BALANCE  SHEET  AS  OF  MARCH  31,  1997  AND  THE
                              CONSOLIDATED  STATEMENT OF OPERATIONS FOR THE NINE
                              MONTHS  ENDED MARCH 31, 1997 AND IS  QUALIFIED  IN
                              ITS  ENTIRETY  BY  REFERENCE  TO  SUCH   FINANCIAL
                              STATEMENTS.
</LEGEND>
<MULTIPLIER>                  1000
<CURRENCY>                    U.S. DOLLARS
       
                           
<PERIOD-TYPE>                 9-MOS
<FISCAL-YEAR-END>                           JUN-30-1997  
<PERIOD-START>                              JUL-01-1996  
<PERIOD-END>                                MAR-31-1997
<EXCHANGE-RATE>                                       1
<CASH>                                           15,387
<SECURITIES>                                          0
<RECEIVABLES>                                    26,052
<ALLOWANCES>                                          0
<INVENTORY>                                     948,151
<CURRENT-ASSETS>                                      0
<PP&E>                                           21,073
<DEPRECIATION>                                        0
<TOTAL-ASSETS>                                1,081,705
<CURRENT-LIABILITIES>                                 0
<BONDS>                                         573,951
<PREFERRED-MANDATORY>                                 0
<PREFERRED>                                           0
<COMMON>                                             18
<OTHER-SE>                                      287,299
<TOTAL-LIABILITY-AND-EQUITY>                  1,081,705
<SALES>                                               0
<TOTAL-REVENUES>                                838,294
<CGS>                                                 0
<TOTAL-COSTS>                                   679,892
<OTHER-EXPENSES>                                117,204
<LOSS-PROVISION>                                      0
<INTEREST-EXPENSE>                                    0
<INCOME-PRETAX>                                  41,198
<INCOME-TAX>                                     14,831
<INCOME-CONTINUING>                              26,367
<DISCONTINUED>                                        0
<EXTRAORDINARY>                                  (1,285)
<CHANGES>                                             0
<NET-INCOME>                                     25,082
<EPS-PRIMARY>                                      1.40
<EPS-DILUTED>                                         0