More than landmines to owners
Home Builder stocks’ last race was fuelled by a belief that housing is better, or at least not worse, during the year 2007.
But there is a real possibility that housing prices continue to decline in both hot regions of the country, such as Florida, Arizona and California. If they do, investors will probably not yet seen the end of large areas of value, which recently raised its ugly head homebuilders.
Debt due mainly in the form of two types: option contract amortization and impairment losses. These two taxes are a time, usually spending zahlungsunwirksamen affect the result.
Profit estimates of Wall Street - with stocks Reviews - are not price the risk. If these expenses up unexpectedly, 2007 could be another year for stocks of crude Builder.
KB Home (KBH - Cramer’s Take - Stockpickr) has already warned the large depreciation and impairment losses on its fourth quarter. Toll Brothers (TOL - Cramer’s Take - Stockpickr), consoles Homes (PHM - Cramer’s Take - Stockpickr) and Dr. Horton (DHI - Cramer’s Take - Stockpickr) announced expenditure similar, although on a smaller scale.
Last week, Hovnanian Enterprises (HOV - Cramer’s Take - Stockpickr) said, to save $ 336 million taxes in the country - the largest such royalties to companies in the construction sector to date - and as a result of a loss of $ 115 million for its fourth quarter financial policy.
It is interesting to Hovnanian said in its conference call that its 2007 budget guidelines, it is understood other violations and zero debts.
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