Annual report pursuant to Section 13 and 15(d)

REAL ESTATE AND CAPITALIZED INTEREST - Summary of Capitalized Interest (Details)

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REAL ESTATE AND CAPITALIZED INTEREST - Summary of Capitalized Interest (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Summary of capitalized interest      
Capitalized interest, beginning of year $ 54,060 [1] $ 32,992 [1] $ 21,600
Interest incurred 67,542 58,374 51,152
Interest expensed (15,965) (5,163) (15,092)
Interest amortized to cost of home and land closings (44,435) (32,143) (24,668)
Capitalized interest, end of year [1] 61,202 54,060 32,992
Equity Method Land Ventures [Member]      
Summary of capitalized interest      
Capitalized interest, beginning of year 490 511  
Capitalized interest, end of year $ 445 $ 490 $ 511
[1] Approximately $445,000, $490,000 and $511,000 of the capitalized interest is related to our joint venture investments and is a component of “Investments in unconsolidated entities” in our consolidated balance sheet as of December 31, 2015, 2014 and 2013, respectively.