Home Builder to Report a Loss
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DALLAS, July 10  â D. R. Horton, the home builder, said Tuesday that it would post a loss for the just-ended quarter after net orders fell 40 percent and it wrote down the value of unsold houses.
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Lennar Corp., the second largest U.S.  home builder, on Tuesday reported a quarterly loss, citing  charges related to land values and declining demand related to  the subprime-mortgage meltdown.
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The company said its quarterly loss ballooned to $302.6 million as it struggled with its mortgage lending arm and said it is trying to renegotiate the sale of the unit.
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In an industry bleeding money, home builder NVR of Reston yesterday bucked the trend by reporting a profit.
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KB Home , a leading U.S. home builder, on Tuesday posted a smaller-than-expected quarterly net loss after a $343.3 million noncash for declining land values, sending its shares up 1.6 percent.
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It is time for the banks to fully disclose their US home-loan losses to prevent fear from making a tough credit crunch worse since the central banks have done about all they can to restore confidence, analysts say.
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The building-materials specialist bears the brunt of the downturn.
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Home builder D.R. Horton Inc.   said on Tuesday declining home values would lead to its first  quarterly loss since it listed on the New York Stock Exchange  in 1995, sending its shares to a three-year low.
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The home builder said on Tuesday declining home values would lead to its first quarterly loss since it listed on the New York Stock Exchange in 1995, sending its shares to a three-year low.
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Investor's Business Daily - The National Assoc. of Realtors cut its &#39;07 outlook for the fourth consecutive month. Home resales will fall to 6.18 mil from last month&#39;s forecast of 6.29 mil and well below the initial 6.42 mil forecast. The median existing-home sales price will fall 1.3%, more than the previously forecast 1% slide. The median new-home price will fall 2.3% to $240,800, reversing the Jan. forecast for a 2% gain, NAR said.
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- Lennar Corp., the second largest U.S. home builder, on Tuesday reported a quarterly loss, citing charges related to land values and declining demand related to the subprime-mortgage meltdown.
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KB Home , the No. 5 U.S. home builder, posted a quarterly net loss on Thursday as home revenue dropped sharply due to the weak housing market.
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People who own something valuable, like a house, want to protect themselves against financial loss. Natural disasters like fire, storms or flooding can damage or destroy valuable possessions.
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Accredited Home Lenders Holding Co , a struggling subprime mortgage lender, on Tuesday posted a $260.2 million quarterly loss and said it remained unsure it would survive the fallout from a slumping U.S. housing market.
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The IRS adds insult to injury for owners selling homes at a loss.
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As firms do the real math, losses related to mortgages could pile up.
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WASHINGTON -- Construction of new homes fell in May as the nation's homebuilders continued to struggle with a steep housing slump that has been exacerbated by rising problems with mortgage defaults.