Mortgage Crisis Up-ends Home Builders
21 Aug
2007
The recent mortgage crisis is causing the publicly traded home builders to take a beating. This morning Bank of America analysts downgraded Hovnanian, Toll Brothers and Standard Pacific while reducing stock price targets by almost a third on all the home builders they cover.
It comes as no surprise that a constricting mortgage market will cut deeply into new home starts and number of available buyers. Tougher lending requirements may take a bite out of remodeling as well.
See full article : Mortgage Crisis Hits Home Builders
