February 14, 2007

Housing market slowdown hits KB Home

“The housing slowdown hit KB Home as charges and price concessions piled up to bring a fourth quarter loss for the Los Angeles homebuilder. For the quarter, KB Home recorded a loss of $49.6 million, or 64 cents a share, including $343.3 million in charges related to inventory and joint venture impairments, as well as the abandonment of land option contracts.”

Filed under Infrastructure and Construction, Real Estate and Housing by editor

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