What say the public homebuilders? Part 2.

November 29, 2007

From this week's JP Morgan Homebuilding and Building Products Conference - some highlights and links to webcasts of their presentations:

Ian McCarthy, Beazer Homes:

Federal, internal, and local investigations, top executive firings, default notices, and heavy losses have kept the builder mired in controversy this year...the Atlanta-based builder is focused on managing issues that have surfaced over the past few months, such as a recent financial restatement and an internal investigation concerning compliance. The company also is installing a downturn management plan that will focus on cash savings across the board. (Robb Crocker, Builder Online News Service)

Chad Drier, The Ryland Group:

Although he wouldn't commit to a specific timeframe, The Ryland Group CEO Chad Dreier said lending on new homes will return to a more rational mix of products..."I think we'll see 80 percent prime and about 20 percent government-backed loans," such as FHA and VA loans, he added..."Guys my age learned a nickel and dime business," said Dreier. "We need to get back to that," he concluded. (Steve Zurier, Builder Online News Service)

Meritage Homes webcast

M.D.C. Holdings (Richmond American) webcast