Homebuilders and Housing Tank into Fiscal Cliff

Before you go, we thought you'd like these...
Before you go close icon

Monopoly housesThe resolution for the fiscal cliff remains elusive. The politicians hate each other too much to be rational. If one sector has a lot to lose as the country drives off of the fiscal cliff in a "Thelma & Louise" fashion, it is the housing sector. Shares homebuilders are down but the sector around retail and insuring mortgages is also down. Here is how some of the key homebuilders are doing themselves:

D.R. Horton Inc. (NYSE: DHI) is down 2.3% at $19.65 against a 52-week range of $12.06 to $22.79.

KB Home (NYSE: KBH) is down 3.6% at $15.03 against a 52-week range of $6.17 to $17.30.

Lennar Corp. (NYSE: LEN) is down 2.6% at $38.27 against a 52-week range of $18.83 to $39.88.

PulteGroup Inc. (NYSE: PHM) is down 2.6% at $18.00 against a 52-week range of $5.88 to $18.86.

Toll Brothers Inc. (NYSE: TOL) is down 2.8% at $31.41 against a 52-week range of $19.63 to $37.08.

We are also seeing an impact in the retailers tied to home improvements:

Home Depot Inc. (NYSE: HD) is down 1.5% at $61.05 against a 52-week range of $41.52 to $65.92, and Lowe's Companies Inc. (NYSE: LOW) is down 1.2% at $34.96 against a 52-week range of $24.76 to $36.47.

MGIC Investment Corp. (NYSE: MTG), a home mortgage insurer, is down almost 3% at $2.33 against a 52-week range of $0.66 to $5.15. Radian Group Inc. (NYSE: RDN) is down by 2.5% at $5.19 against a 52-week range of $2.00 to $5.55.

The SPDR S&P Homebuilders (NYSEMKT: XHB) is down 1.6% at $26.35, but this is 1% higher than the lows after the open.

Another Christmas present from Washington D.C.

JON C. OGG


Filed under: 24/7 Wall St. Wire, Economy, Housing Tagged: DHI, HD, KBH, LEN, LOW, MTG, PHM, RDN, TOL, XHB
Read Full Story

Markets

S&P 500 2,388.61 14.46 0.61%
DJIA 20,996.12 232.23 1.12%
NASDAQ 6,025.49 41.67 0.70%
DAX 12,467.04 12.06 0.10%
NIKKEI 225 19,079.33 203.45 1.08%
HANG SENG 24,455.94 316.46 1.31%
USD (per EUR) 1.09 0.01 0.63%
USD (per CHF) 0.99 0.00 -0.28%
JPY (per USD) 111.09 1.46 1.33%
GBP (per USD) 1.28 0.01 0.44%

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners

Cops Catch Up To A Suspicious Speeding Vehicle - And Make An Appalling Discovery Inside Cops Catch Up To A Suspicious Speeding Vehicle - And Make An Appalling Discovery Inside
Don't Get Too Close To a Newborn Giraffe Unless You Want to Get Kicked in the Nuts Don't Get Too Close To a Newborn Giraffe Unless You Want to Get Kicked in the Nuts
If You Find One Of These In Your Yard, Don't Touch It - And Try Not To Panic If You Find One Of These In Your Yard, Don't Touch It - And Try Not To Panic