Posted To: Pipeline PressAs Hurricane Michael heads toward Florida & Georgia (with the wind and storm surge, lenders and investors act – for example, Mr. Cooper has temporarily suspended loan purchases in several Florida counties effective today), contractors and builders are watching. Things aren’t rosy in that sector. DR Horton, for example, added to the housing unease with weaker than forecast sales. Home builder stocks have entered a bear market as interest rates continue to rise, tariffs have hurt the housing sector as higher building material costs from China negatively impact home builder margins, problems finding labor continue, the lack of raw, buildable land in some markets, along with the process and regulatory costs of building, first-time home buyers interested in the lower end of the market…(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Michael Ayoub, Author NMLS ID 6631