And KB Home, one of the smaller homebuilders concentrated mostly on the West Coast, reported a surge in profit: $27.3 million, 30 cents a share, from $3.3 million, 4 cents a share. It too beat Wall Streets estimates, which called for 22 cents a share in earnings. Revenue shot up 29% home to $549 million.
For the original version including any supplementary images or video, visit http://www.forbes.com/sites/abrambrown/2013/09/24/homebuilders-show-housing-recovery-hasnt-crumbled-yet/
Nation’s top broker: Three reasons we’re not in a housing bubble
Mortgage rates went from 6.41% in 2006 down to 3.65% in 2012. At the end of 2012, the Fed raised the amount of bonds they were buying to $85 billion per month. Then, this past May, Fed Chairman Ben Bernanke hinted that the Fed would taper the bond-buying at some point in the fall.
For the original version including any supplementary images or video, visit http://finance.yahoo.com/blogs/talking-numbers/nation-top-broker-three-reasons-not-housing-bubble-094135598.html