Horton Hears a Who!
Two of the country’s largest home-building corporations lost millions in Q209 and said challenges remain amid low buyer demand for new homes. Bloomfield Hills, Mich.-based Pulte Homes [stock PHM][/stock] lost $189.5m ($0.74 per share), an even greater loss than the $158.4m Pulte reported in Q208. The country’s largest builder, Fort Worth-based DR Horton [stock DHI][/stock], lost $142.3m ($0.45 per share) in the quarter. That’s an improvement over Q208’s loss of just under $400m.