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Notes Payable (Tables) | 12 Months Ended
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Nov. 30, 2020
Debt Disclosure [Abstract] |
Mortgages and Notes Payable | Notes payable consisted of the following (in thousands):
| November 30,
| 2020 |  | 2019
Mortgages and land contracts due to land sellers and other loans (at interest rates of 4.5% to 6.0% at November 30, 2020 and 7.0% at November 30, 2019) | $ | 4,667 |  |  | $ | 7,889 |
7.00% Senior notes due December 15, 2021 | 449,029 |  |  | 448,164 |
7.50% Senior notes due September 15, 2022 | 348,846 |  |  | 348,267 |
7.625% Senior notes due May 15, 2023 | 351,281 |  |  | 351,748 |
6.875% Senior notes due June 15, 2027 | 296,757 |  |  | 296,379 |
4.80% Senior notes due November 15, 2029 | 296,595 |  |  | 296,300 |
Total | $ | 1,747,175 |  |  | $ | 1,748,747 |
The key terms of each of our senior notes outstanding as of November 30, 2020 were as follows (dollars in thousands):
|  |  |  |  |  |  |  | Redeemable Prior to Maturity |  | Effective Interest Rate
Notes Payable |  | Principal |  | Issuance Date |  | Maturity Date |  |
7.00% Senior notes |  | $ | 450,000 |  |  | October 29, 2013 |  | December 15, 2021 |  | Yes (a) |  | 7.2 | %
7.50% Senior notes |  | 350,000 |  |  | July 31, 2012 |  | September 15, 2022 |  | Yes (b) |  | 7.7 |
7.625% Senior notes |  | 350,000 |  |  | February 17, 2015/February 20, 2019 |  | May 15, 2023 |  | Yes (a) |  | 7.5 |
6.875% Senior notes |  | 300,000 |  |  | February 20, 2019 |  | June 15, 2027 |  | Yes (a) |  | 7.1 |
4.80% Senior notes |  | 300,000 |  |  | November 4, 2019 |  | November 15, 2029 |  | Yes (a) |  | 5.0 |
(a)At our option, these notes may be redeemed, in whole at any time or from time to time in part, at a redemption price equal to the greater of (i) 100% of the principal amount of the notes being redeemed and (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the notes being redeemed (exclusive of interest accrued to the applicable redemption date), discounted to the redemption date at a defined rate, plus, in each case, accrued and unpaid interest on the notes being redeemed to, but excluding, the applicable redemption date, except that three months prior to the stated maturity dates for the 7.00% Senior Notes due 2021 and until their respective maturity, and six months prior to the stated maturity date for the 7.625% Senior Notes due 2023, 6.875% Senior Notes due 2027 and 4.80% Senior Notes due 2029 and until their maturity, the redemption price will be equal to 100% of the principal amount of the notes being redeemed, plus, in each case, accrued and unpaid interest on the notes being redeemed to, but excluding, the applicable redemption date. (b)At our option, these notes may be redeemed, in whole at any time or from time to time in part, at a redemption price equal to the greater of (i) 100% of the principal amount of the notes being redeemed and (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the notes being redeemed (exclusive of interest accrued to the applicable redemption date), discounted to the redemption date at a defined rate, plus, in each case, accrued and unpaid interest on the notes being redeemed to the applicable redemption date.

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