America's second largest lumber and materials dealer reports having taken a hard hit. More
Stock dropped more than 21 percent in trading Thursday after the company reported a $241.6 million quarterly loss. More
Start-up offers sustainable house plans for free download with hopes of bringing... More
Hollywood, Fla.-based Technical Olympic USA was informed late Friday by the New York Stock Exchange (NYSE) that its common stock and debt securities would be suspended effective Monday, November 19, because the home builder's shares fell below the $1 average closing price over a consecutive 30-trading day period. The company announced that it is currently making arrangements for its common stock and debt securities to be traded in alternate markets. The builder also says it plans to appeal the NYSE's decision. More
As troubles continue to mount for Hollywood, Fla.-based Technical Olympic USA (TOUSA), including a third-quarter net loss of $619.7 million, the home builder says it is considering Chapter 11 bankruptcy protection. The comments came in the company's third quarter report. In addition, the builder was recently notified by the New York Stock Exchange that delisting procedures may soon begin. More
Also Inside: J.D. Power and Associates adds more building products to its satisfaction surveys. / American Standard Cos. sells its kitchen and bath business. More
Countrywide Financial, the largest U.S. home lender, is reporting a 33 percent drop in second-quarter net income. In addition, the California-based company's shares fell seven percent in morning trading on the New York Stock Exchange from Monday's close of $34.06. More
With its four most recent acquisitions, Raleigh, N.C.-based Stock Building Supply continued its march into some of the strongest housing markets in the United States. Over the past seven months, the company, which had annual sales of $4.1 billion ending in July last year, bought out Chicago-based Seigle's; Universal Supply Co. in Hammonton, N.J.; Home Lumber Company in San Bernardino, Calif.; and K&A Lumber Company in Homestead, Fla., a supplier of framing lumber and rebar. More
It's a rainy Saturday in February, and home buyers Lisa and Chuck Brousseau have... More
THE NATION'S HOME BUILDERS OPERATED IN a very favorable economic and financial market environment in 2004, and home sales and single-family housing starts soared to record levels. But inventories of unsold homes moved up during the year as well, and financial market conditions promise to be less favorable in 2005. Builders must prepare by focusing on the changing environment—higher interest rates, weaker buyer demand, and a higher inventory-to-sales ratio—to make the most of the new year. More
