Oct
8
Written by:
Steve Patterson
10/8/2009 3:17 PM
New Residential Construction Industries Jump on Mortgages
A number of industries related to residential home construction including New Residential Construction itself, moved higher today as mortgage rates continue to fall. Residential Construction moved higher 5.7% as an industry with Cement jumping 4.34% higher and Lumber/Wood Production also higher 3.66%.
By Steve Patterson
Residential Building
A number of names in New Residential Construction moved higher today including Brookfield Homes (BHS), Standard Pacific (SPF), Hovanian (HOV), Lennar (LEN), and Ryland (RYL). Brookfield Homes has bounced around recently with the economy, moving down to $3.30 a share in July and rebounding to $8.33 a share in September. Recently the stock has traded near $6.00. Sales have continued to fall for Brookfield, down 25% this quarter compared to a year ago along with quarterly losses improving. Many of the companies in the industry are seeing losses improve dramatically compared to a year ago even as sales continue to decline. The home builders are hoping for an additional First Time Home Buyer Credit to be passed by Congress but have not moved dramatically from their recent lows.
Related Industries
Cement names CRH (CRH), James Hardie (JHX), and Cemex (CX) all moved higher today in sync with Residential Construction. Lumber names that jumped upwards of 9.25% include Koppers Holding (KOP), Louisiana Pacific (LPX), and Weyerhauser Co (WY). Weyerhauser declared their dividend today of 5 cents.
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10 comment(s) so far...
Webriq
I agree with you.Because of this Many of the companies in the industry are seeing losses compared to years ago
By Philippe Bodart on
10/9/2009 5:21 AM
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RE: New Residential Construction Industries Jump on Mortgages
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10/9/2009 6:25 AM
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By perth insulation on
10/10/2009 1:30 AM
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Re: New Residential Construction Industries Jump on Mortgages
Great article, thanks for posting this up. I've been following Brookfield Homes and I'm glad it's doing well.
By regcure review on
10/11/2009 10:07 AM
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Re: New Residential Construction Industries Jump on Mortgages
Thanks for the article.Your article was pretty informative and i hope that in future also i get these kind of article.
Thanks,
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www.moveablecubicle.com
By Portable Storage on
10/11/2009 8:43 PM
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Re: New Residential Construction Industries Jump on Mortgages
I am impressed that you posted this kind of article. The details are very realistic. I agree that many business are now decreasing their profits. Sad to stay :(
By Ana, go-prepaid on
10/12/2009 4:12 AM
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Re: New Residential Construction Industries Jump on Mortgages
Nice article on real estate company mortgage. Your posts are always informative.
Thanks,
Steve
By Annuity Rates on
10/14/2009 6:20 AM
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Re: New Residential Construction Industries Jump on Mortgages
With this current economy I don't that much improvement in real estate business and obviously residential construction industries will also be affected.
By Texas Divorce Forms on
10/15/2009 3:14 PM
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Re: New Residential Construction Industries Jump on Mortgages
nice ayticle but it is there that the real estate industry will also bounce back may take time
thanks
By Fat Burning Furnace Secrets on
11/26/2009 4:08 AM
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Re: New Residential Construction Industries Jump on Mortgages
Very good article and blog,thanks for the info.
By Atlaptopbattery on
12/24/2009 1:53 AM
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