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related topics |
{condition, economic, financial} |
{acquisition, growth, future} |
{gas, price, oil} |
{product, market, service} |
{cost, contract, operation} |
{cost, operation, labor} |
{debt, indebtedness, cash} |
{stock, price, operating} |
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The homebuilding industry has not experienced a downturn in many years, and new homes may be overvalued.
If new home prices decline, interest rates increase or there is a downturn in the economy, some homebuyers may cancel their home purchases because the required deposits are small and generally refundable.
Our success depends on the availability of improved lots and undeveloped land that meet our land investment criteria.
Home prices and sales activity in the particular markets and regions in which we do business impact our results of operations because our business is concentrated in these markets.
Interest rate increases or changes in federal lending programs could lower demand for our homes.
We are subject to substantial legal and regulatory requirements regarding the development of land, the homebuilding process and protection of the environment, which can cause us to suffer delays and incur costs associated with compliance and which can prohibit or restrict homebuilding activity in some regions or areas.
We build homes in highly competitive markets, which could hurt our future operating results.
Changing market conditions may adversely impact our ability to sell homes at expected prices.
The design and construction of high density mixed use properties in urban areas in the United States present unique challenges, and we have limited experience in this business.
Because of the seasonal nature of our business, our quarterly operating results fluctuate.
Our leverage may place burdens on our ability to comply with the terms of our indebtedness, may restrict our ability to operate and may prevent us from fulfilling our obligations.
We may have difficulty in continuing to obtain the additional financing required to operate and develop our business.
Our future growth may be limited by contracting economies in the markets in which we currently operate, as well as our inability to enter markets on a de novo basis or to find appropriate acquisition candidates. Our growth also may be limited by the consummation of acquisitions that may not be successfully integrated, or our de novo entry into markets that may not achieve expected benefits.
Full 10-K form ▸
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