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Big Home Builder D R Horton Suffers Big Quarterly Loss

By Bill Zeeble

http://stream.publicbroadcasting.net/production/mp3/kera/local-kera-703404.mp3

Dallas, TX – DR Horton's loss of 1 point 3 billion dollars comes out to a 4 dollar 14 cent loss per share, a lot worse than analysts predicted. A year ago, the company made more than 50 million dollars. A lot of the losses were tied to lower property values and sales of company owned land. It also took a loss by dropping home prices. DR Horton's 2nd quarter home sales were also down, compared to last year. Board Chair Donald Horton called market conditions challenging. Bill Zeeble KERA news.