<ARTICLE>                     5
<LEGEND>
THIS  SCHEDULE  CONTAINS  SUMMARY  FINANCIAL   INFORMATION  EXTRACTED  FROM  THE
CONSOLIDATED  BALANCE  SHEET  AS OF  SEPTEMBER  30,  1997  AND THE  CONSOLIDATED
STATEMENT OF  OPERATIONS  FOR THE THREE MONTHS ENDED  SEPTEMBER  30, 1997 AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER>                                   1000
<CURRENCY>                             U.S. Dollars
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                                                    JUN-30-1998
<PERIOD-START>                                                       JUL-01-1997
<PERIOD-END>                                                         SEP-30-1997
<EXCHANGE-RATE>                                                                1
<CASH>                                                                     4,921
<SECURITIES>                                                                   0
<RECEIVABLES>                                                             22,294
<ALLOWANCES>                                                                   0
<INVENTORY>                                                              965,887
<CURRENT-ASSETS>                                                               0
<PP&E>                                                                    19,330
<DEPRECIATION>                                                                 0
<TOTAL-ASSETS>                                                         1,066,671
<CURRENT-LIABILITIES>                                                          0
<BONDS>                                                                  548,716
<PREFERRED-MANDATORY>                                                          0
<PREFERRED>                                                                    0
<COMMON>                                                                      18
<OTHER-SE>                                                               306,221
<TOTAL-LIABILITY-AND-EQUITY>                                           1,066,671
<SALES>                                                                        0
<TOTAL-REVENUES>                                                         248,043
<CGS>                                                                          0
<TOTAL-COSTS>                                                            202,011
<OTHER-EXPENSES>                                                          36,461
<LOSS-PROVISION>                                                               0
<INTEREST-EXPENSE>                                                             0
<INCOME-PRETAX>                                                            9,571
<INCOME-TAX>                                                               3,446
<INCOME-CONTINUING>                                                        6,125
<DISCONTINUED>                                                                 0
<EXTRAORDINARY>                                                                0
<CHANGES>                                                                      0
<NET-INCOME>                                                               6,125
<EPS-PRIMARY>                                                               0.34
<EPS-DILUTED>                                                                  0