14.03.2013 - Cautious homebuilders target local markets, rentals for growth
Small- and mid-size homebuilders are aiming to become masters of their local market, reining in plans to expand nationwide that ultimately led many to fail when the housing bubble burst in 2007. The bigger players - companies like No. 3 homebuilder Lennar Corp and the market leader in luxury homes, Toll Brothers Inc - are entering the rental market as a growing number of Americans opt to live in rented accommodation. "(Lennar and Toll) have the balance sheet to go out and attack opportunities that could provide a higher return than a single-family home," said JMP Securities analyst Peter Martin........................................Full Article: Source
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