Housing Top Was Sweet for KB Home Pair
As the housing market slumps, few companies are suffering as badly as KB Home (KBH).
The homebuilder specializes in the Southern and Southwestern markets, where the pain is the worst. It recently reported a $172 million quarterly loss from continuing operations, as sales collapsed by a third. And, as we know, the results are similar across the real estate sector and, now, the mortgage business.
KB Home stock has been in free fall for most of the year, plunging roughly 40% since January, trading recently on Wednesday down 2.5% to $31.01.
Cashing out at the top is nothing new for insiders in the hard-hit homebuilder sector, as investors in
(TOL) can attest. Combine the problems in that sector with the recent meltdown of mortgage companies
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