A homebuilding and mortgage-finance company. The Company consists of six segments: four geographically-determined homebuilding regions, financial services, and corporate.
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Fool UK
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Housing market is going down. Nope haven't seen the bottom nor will we for a while. But you say, "People need a house to live in!" True True. But at what price. Maybe affordable housing. But the foreclosure/default rates show another story. There are a couple areas in the US where housing is still doing ok; Seattle, Austin, etc (upper middle/upper class areas). However, as a whole, the housing industry is seeing hard times and the another batch of ARM resets is due out in the next couple months. Not to mention lending practices are being tightened and scrutinized. Furthermore, housing slumps are usually a good indicator of recessions. Why? Real estate affects consumer spending. Conclusion, shorting the housing and retail sector are safe bets probably for 1-2 years.
There's got to be a reason why the Dutch word for "POOR" is "ARM"!