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U S No. 1 Builder Reports Massive 21% Profit Drop 3rd Q

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The Associated Press

Thursday, July 20, 2006 9:51 a.m. ET
FORT WORTH, Texas (AP) -- D.R. Horton Inc., the nation's top residential builder by units, said Thursday its third-quarter profit dropped 21 percent due to a tighter housing market.
"The current home sales environment is characterized by an increase in both existing and new homes available for sale, higher than normal cancellation rates and an increase in the use of sales incentives in many of our markets."
Shares of D.R. Horton rose 10 cents to $20.95 in early trading on the New York Stock Exchange.

Sounds like the dot.com era when a bad company result sent share price skyrocketing.

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  • 338 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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