Thursday, November 15, 2018

That's a new excuse for sure.

KB Home shares crater toward worst day since 1992.

"The lowered guidance was due to lower than usual deliveries in Texas and delays in California due to the wildfires, the homebuilder's CEO Jeff Mezger said in a conference call."  Emphasis mine.

Yes... It's not at all due to the price cuts new homes have had to take.  Margins can't look good.

Additionally - there is a LOT of "cratering" going on.

2 comments:

leaperman said...

Well, there is a LOT of people that are going to be in the new home market.
What is it? over 27,000 lost homes?

she said: said...

Yeah. Hopefully it will suck up some of the car market too. I guess. In a broken windows sort of way.