Moody's Says U.S. Homebuilders Still Face Major Risks
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Moody's said today that despite some improvement in U.S. home sales, housing starts, and other key metrics, U.S. homebuilders still face major risks. The firm expects homebuilders to post combined operating losses of more than half a billion dollars in 2010.
Moody's VP and Senior Credit Officer, Joe Snider said, "We expect most homebuilders to continue generating pre-impairment operating losses over the next 12 to 18 months."
On a more positive note however, the macroeconomic and homebuilding industry news releases, which were gloomy late last year and early this year, have actually seemed to tilt more to the positive column in recent months, the Moody's report said.
Related Stocks:
- SPDR S&P Homebuilders (NYSE: XHB)
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- Meritage Homes Corporation (NYSE: MTH)
- Lennar Corp. (NYSE: LEN)
- Toll Brothers Inc. (NYSE: TOL)
- Standard Pacific Corp. (NYSE: SPF)
- DR Horton Inc. (NYSE: DHI)
- KB Home (NYSE: KBH)
- M/I Homes, Inc. (NYSE: MHO)
- Pulte Homes Inc. (NYSE: PHM)
- Beazer Homes USA Inc. (NYSE: BZH)
- Hovnanian Enterprises Inc. (NYSE: HOV)
- MDC Holdings Inc. (NYSE: MDC)
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