<ARTICLE>                     5
<LEGEND>
    THE FINANCIAL DATA SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED
FROM [Identidy specific financial statements] AND IS QUALIFIED IN ITS ENTIRETY 
BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER>             1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                              DEC-31-1998
<PERIOD-END>                                   MAR-31-1998
<CASH>                                         99,824
<SECURITIES>                                   2,876,528
<RECEIVABLES>                                  0
<ALLOWANCES>                                   0
<INVENTORY>                                    8,717,601
<CURRENT-ASSETS>                               8,817,425
<PP&E>                                         1,039,145
<DEPRECIATION>                                 (371,986)
<TOTAL-ASSETS>                                 13,788,435
<CURRENT-LIABILITIES>                          11,622,092
<BONDS>                                        1,276,916
<PREFERRED-MANDATORY>                          0
<PREFERRED>                                    1,147,870
<COMMON>                                       14,263
<OTHER-SE>                                     577,294
<TOTAL-LIABILITY-AND-EQUITY>                   13,788,435
<SALES>                                        2,802,605      
<TOTAL-REVENUES>                               3,056,142       
<CGS>                                          303,037         
<TOTAL-COSTS>                                  2,655,524       
<OTHER-EXPENSES>                               0               
<LOSS-PROVISION>                               0               
<INTEREST-EXPENSE>                             304,571         
<INCOME-PRETAX>                                435,619         
<INCOME-TAX>                                   0               
<INCOME-CONTINUING>                            435,619         
<DISCONTINUED>                                 0               
<EXTRAORDINARY>                                0               
<CHANGES>                                      0               
<NET-INCOME>                                   435,619         
<EPS-PRIMARY>                                  0.17           
<EPS-DILUTED>                                  0.10