<ARTICLE> 5
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          NOV-30-1997
<PERIOD-START>                             DEC-01-1996
<PERIOD-END>                               FEB-28-1997
<CASH>                                          11,078
<SECURITIES>                                    79,683<F1>
<RECEIVABLES>                                  210,799
<ALLOWANCES>                                         0
<INVENTORY>                                    759,897
<CURRENT-ASSETS>                                     0
<PP&E>                                               0
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                               1,173,251
<CURRENT-LIABILITIES>                                0
<BONDS>                                        465,273<F2>
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                        38,830
<OTHER-SE>                                     298,813
<TOTAL-LIABILITY-AND-EQUITY>                 1,173,251
<SALES>                                        339,635
<TOTAL-REVENUES>                               346,384
<CGS>                                          279,588
<TOTAL-COSTS>                                  282,834<F3>
<OTHER-EXPENSES>                                49,284<F4>
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               8,396
<INCOME-PRETAX>                                  6,944
<INCOME-TAX>                                     2,500
<INCOME-CONTINUING>                              4,444
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     4,444
<EPS-PRIMARY>                                     0.11
<EPS-DILUTED>                                        0<F5>
<FN>
<F1>MARKETABLE SECURITIES ARE COMPRISED OF FIRST MORTGAGES AND MORTGAGE-BACKED
SECURITIES WHICH ARE HELD FOR LONG-TERM INVESTMENT. THE MORTGAGE-BACKED
SECURITIES SERVE AS COLLATERAL FOR RELATED COLLATERALIZED MORTGAGE OBLIGATIONS.
<F2>BONDS ARE COMPRISED OF SENIOR AND SENIOR SUBORDINATED NOTES AND COLLATERALIZED
MORTGAGE OBLIGATIONS.
<F3>TOTAL COSTS INCLUDE INTEREST EXPENSE ON THE COLLATERALIZED MORTGAGE
OBLIGATIONS, AS THE ASSOCIATED INTEREST INCOME GENERATED FROM THE
MORTGAGE-BACKED SECURITIES IS INCLUDED IN TOTAL REVENUES.
<F4>OTHER EXPENSES ARE COMPRISED OF SELLING, GENERAL AND ADMINISTRATIVE EXPENSES.
<F5>FULLY DILUTED EARNINGS PER SHARE IS NOT DISCLOSED IN THE COMPANY'S CONSOLIDATED
FINANCIAL STATEMENTS SINCE THE MAXIMUM DILUTIVE EFFECT IS NOT MATERIAL.
</FN>