Tuesday, January 12, 2010

Tax benefit allows another tax parasite home builder, Kaufman and Broad to post a profit

KB Home profits fell 27%, it's stock price also fell but the builder said cancellations slowed. The cancellation rate is down 15 percent. "We are building more homes at a loss every month" said an un-named spokesperson who is not authorized to disclose the company's actual financial future.

The Los Angeles company on Tuesday said lower sales for housing hurt total revenue as it delivered 22% fewer homes and its average selling price declined 12%. The company has been building smaller and more-affordable homes in a doomed effort to compete with bargain-priced foreclosures.