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Capitalized Interest (Tables)
 12 Months Ended
Dec. 31, 2018
Capitalized Interest [Abstract]  
Summary of interest incurred, capitalized, and expensed
For the years ended December 31, 2018, 2017 and 2016 interest incurred, capitalized and expensed was as follows:
 
Year Ended December 31,
 
2018
 
2017
 
2016
 
(Dollars in thousands)
Interest incurred
$
28,377

 
$
21,978

 
$
7,484

Interest capitalized to inventory
(27,393
)
 
(20,394
)
 
(7,484
)
Interest capitalized to investment in unconsolidated joint ventures
(984
)
 
(1,584
)
 
—

Interest expensed
$
—

 
$
—

 
$
—

 
 
 
 
 
 
Capitalized interest in beginning inventory
$
16,453

 
$
6,342

 
$
4,190

Interest capitalized as a cost of inventory
27,393

 
20,394

 
7,484

Capitalized interest acquired from unconsolidated joint ventures at consolidation
—

 
738

 
—

Capitalized interest transferred from investment in unconsolidated joint ventures to inventory upon lot acquisition
513

 
—

 
—

Contribution to unconsolidated joint ventures
—

 
—

 
(1
)
Previously capitalized interest included in cost of home sales
(18,678
)
 
(11,021
)
 
(5,331
)
Capitalized interest in ending inventory
$
25,681

 
$
16,453

 
$
6,342

 
 
 
 
 
 
Capitalized interest in beginning investment in unconsolidated joint ventures
$
1,472

 
$
—

 
$
—

Interest capitalized to investment in unconsolidated joint ventures
984

 
1,584

 
—

Capitalized interest transferred from investment in unconsolidated joint ventures to inventory upon consolidation
—

 
(76
)
 
—

Capitalized interest transferred from investment in unconsolidated joint ventures to inventory upon lot acquisition
(513
)
 
—

 
—

Previously capitalized interest included in equity in net income (loss) of unconsolidated joint ventures
(1,230
)
 
(36
)
 
—

Capitalized interest in ending investment in unconsolidated joint ventures
$
713

 
$
1,472

 
$
—

Total capitalized interest in ending inventory and investments in unconsolidated joint ventures
$
26,394

 
$
17,925

 
$
6,342

 
 
 
 
 
 
Capitalized interest as a percentage of inventory
4.5
%
 
4.0
%
 
2.2
%
Interest included in cost of home sales as a percentage of home sales revenue
3.7
%
 
2.0
%
 
1.1
%
 
 
 
 
 
 
Capitalized interest as a percentage of investment in and advances to unconsolidated joint ventures
2.1
%
 
2.6
%
 
—
%