Tax gains drive profits for homebuilders

2010-03-18T11:01:45Z

<div id="subtitle">Large homebuilders recouping housing boom-era taxes and eking out profits</div><div><p>It's tax season, and the IRS is being particularly generous to some of the nation's largest homebuilders.</p><p>Several publicly traded companies, including Lennar Corp.,

Summary Box: Housing construction falls in Feb.

2010-03-16T15:16:28Z

<div id="subtitle">Summary Box: February snows depress housing construction with permit applications also down</div><div><p>HOUSING STARTS: Construction of new homes and apartments fell 5.9 percent in February to a seasonally adjusted annual rate of 575,000 units.</p><p>SNOW EFFECT: Economists blamed the heavy snowstorms that hit the East Coast, noting that the declines occurred in the Northeast and the South.</p><p>HOUSING PROSPECTS: Economists be...

Bad weather depresses housing starts in February

2010-03-16T12:32:35Z

<div><p>WASHINGTON (Reuters) - U.S. housing starts fell last month as winter storms disrupted construction, and another drop in building permits suggested the weakness would linger.</p><p>Though the data on Tuesday was an indication home building would clip economic growth in the first quarter, it was not as weak as analysts had expected, and groundb...

Housing starts, permits fall in February

2010-03-16T06:00:20Z

<div><p>WASHINGTON (Reuters) - Housing starts and permits to build new homes both fell in February as winter storms in some parts of the country disrupted home building, a government report showed on Tuesday.</p><p>The Commerce Department said housing starts fell 5.9 percent to a seasonally adjusted annual rate of 575,000 ...

Ahead of the Bell: Housing starts

2010-03-16T03:45:08Z

<div id="subtitle">Housing construction likely slipped in February in part because of severe winter snowstorms</div><div><p>Housing construction, which hit a six-month high in January, likely slipped in February, reflecting in part the major snowstorms that hit many parts of the country. The housing industry in good times is a major generator of jobs and economic growth.</p><p>Economists surveyed by Grosse Pointe Park, Mich. The National Association of Home Builders releases its housing market index for March on Monday, March 15. (AP Photo/Paul Sancya, File)

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Homebuilder sentiment index falls in March

2010-03-15T13:18:08Z

<div id="subtitle">Homebuilder sentiment index drops in March as weather, foreclosures put damper on outlook</div><div><p>Harsh winter weather and competition from deeply discounted foreclosures are putting a damper on sales prospects for homebuilders.</p><p>The National Association of Home Builders said Monday its housing market index, which tracks indust...

Orleans Homebuilders gets financing approval

2010-03-05T15:15:16Z

<div id="subtitle">Orleans Homebuilders, in bankruptcy protection, gets financing approval</div><div><p>The developer Orleans Homebuilders Inc. said Friday that it has received approval from a Delaware bankruptcy court for financing to continue operating after filing for Chapter 11 protection.</p><p>The builder said it received inte...

Highlights from the Fed's latest economic survey

2010-03-03T14:33:38Z

<div id="subtitle">Highlights from the latest Beige Book economic survey of the Fed's 12 regional bank districts</div><div><p>Highlights from the Federal Reserve's survey of economic conditions nationwide. The survey, released Wednesday and known as the Beige Book, is based on information collected from the Fed's 12 regional bank districts.</p><p>BOSTON</p><p>(This region cover...

Hovnanian CEO: Glut of unsold homes easing

2010-03-03T13:19:05Z

<div id="subtitle">CEO of homebuilder Hovnanian says market could withstand a 'little' increase in foreclosures</div><div><p>The CEO of Hovnanian Enterprises Inc. said a modest surge in foreclosures this year wouldn't have a devastating effect on the homebuilder's sales.</p><p>Ara Hovnanian said new construction and the inventory of homes for sale have fallen well below normal levels in many cities. So ...

Hovnanian swings to profit for Q1

2010-03-02T15:00:38Z

<div id="subtitle">Homebuilder Hovnanian Enterprises posts $236.2M profit in 1st-qtr on tax gain</div><div><p>Hovnanian Enterprises Inc. said Tuesday it posted a quarterly profit for the first time since 2006 as the homebuilder benefited from a hefty tax gain.</p><p>But aside from the $291.3 million gift from Uncle Sam, the builder's results reflected ongoing weakness in the ho...

Orleans Homebuilders files for protection

2010-03-02T10:30:14Z

<div id="subtitle">Orleans Homebuilders files for Chapter 11 bankruptcy protection after $350M loan default</div><div><p>The developer Orleans Homebuilders has filed for Chapter 11 bankruptcy protection after defaulting on a $350 million loan last month.</p><p>The company, based in Bensalem, Pa., said it was unable to complete a sal...

Homebuilder Toll Brothers posts narrower 1Q loss

2010-02-24T11:45:49Z

<div id="subtitle">Luxury homebuilder Toll Bros. reports $412M loss, but CEO says industry rebound will take time</div><div><p>Toll Brothers Inc. said Wednesday the slow recovery of the housing market helped the luxury homebuilder post a narrower loss in its fiscal first quarter.</p><p>But CEO Robert Toll isn't looking for a speedy or smoot...

Earns Toll Brothers

2010-02-24T05:46:37Z

FILE - In this file photo taken Dec. 3, 2008, a Toll Brothers housing complex is shown in Sunnyvale, Calif. Toll Brothers Inc. said Wednesday, Feb. 24, 2010, the slow recovery of the housing market helped the luxury homebuilder post a narrower loss in its fiscal first quarter.(AP Photo/Paul Sakuma, File)

Earnings Preview: Toll Brothers

2010-02-23T14:17:46Z

<div id="subtitle">Luxury homebuilder Toll Brothers expected to report loss for fiscal first quarter</div><div><p>Luxury homebuilder Toll Brothers Inc., reports its fiscal first-quarter results before the stock market opens Wednesday.</p><p>WHAT TO WATCH FOR: Signs that home orders and completed sales rose during the quarter and any outlook from management on sales for the second half of the y...

Orleans Homebuilders defaults on $350M loan

2010-02-19T15:15:53Z

<div id="subtitle">Orleans Homebuilders defaults on $350M loan, saying it can't repay, was unable to modify terms</div><div><p>Orleans Homebuilders Inc. said Friday that it defaulted on a $350 million loan since it doesn't have sufficient funds to repay the amount owed to its creditor and failed to renegotiate the terms of the loan.</p><p>The homebuilder said that its second amen...

Housing Starts

2010-02-17T06:15:41Z

In this photo made Feb. 4, 2010, a new home is under construction in Gilbert, Ariz. Construction of new homes and apartments posts better-than-expected January rebound.(AP Photo/Matt York)

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Pulte Homes founder to retire

2010-02-22T09:25:37Z

<div id="subtitle">Pulte Homes founder to retire from company after 60 years in homebuilding business</div><div><p>Pulte Homes, the nation's largest homebuilder, says founder William J. Pulte will retire from the company, and its board, at the end of March after 60 years in the business.</p><p&gt...

Pulte Homes posts loss for Q4

2010-02-22T10:37:19Z

<div id="subtitle">Homebuilder Pulte Homes posts loss for fourth quarter, weighed down by charges</div><div><p>Pulte Homes Inc. said Tuesday its loss narrowed in its fourth quarter, and the nation's largest homebuilder expressed cautious optimism for housing demand this year.</p><p>Pulte Pulte Homes quarterly loss narrows, Agrium earnings tumble on weaker prices</div><div><p>Among the earnings stories for Tuesday, Feb. 9, from AP Financial News:</p><p>_ Pulte Homes Inc. said its loss narro...

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