Home builders sucked into credit crisis - Douglas McIntyre (BloggingStocks)

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Home builders sucked into credit crisis
Mar 27, 2008 07:46 PM UTC

Douglas McIntyre (BloggingStocks)

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As the financial crisis spreads quickly from Wall Street to other industries, two large home builder projects have received default notices. The problems involve developments in Las Vegas, where house prices have collapsed.

A project involving KB Homes (NYSE: KBH), Lennar (NYSE: LEN), and Toll Brothers (NYSE: TOL) has failed to make interest payments on $765 million in debt.

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