The Housing Chronicles Blog: What say the public homebuilders? Part 2.

Thursday, November 29, 2007

What say the public homebuilders? Part 2.

November 29, 2007

From this week's JP Morgan Homebuilding and Building Products Conference - some highlights and links to webcasts of their presentations:

Ian McCarthy, Beazer Homes:

Federal, internal, and local investigations, top executive firings, default notices, and heavy losses have kept the builder mired in controversy this year...the Atlanta-based builder is focused on managing issues that have surfaced over the past few months, such as a recent financial restatement and an internal investigation concerning compliance. The company also is installing a downturn management plan that will focus on cash savings across the board.
(Robb Crocker, Builder Online News Service)

Chad Drier, The Ryland Group:

Although he wouldn't commit to a specific timeframe, The Ryland Group CEO Chad Dreier said lending on new homes will return to a more rational mix of products..."I think we'll see 80 percent prime and about 20 percent government-backed loans," such as FHA and VA loans, he added..."Guys my age learned a nickel and dime business," said Dreier. "We need to get back to that," he concluded. (Steve Zurier, Builder Online News Service)

Meritage Homes webcast

M.D.C. Holdings (Richmond American) webcast

No comments: