882184--11/20/2009--HORTON_D_R_INC_/DE/

related topics
{condition, economic, financial}
{acquisition, growth, future}
{financial, litigation, operation}
{cost, contract, operation}
{capital, credit, financial}
{competitive, industry, competition}
{tax, income, asset}
{cost, operation, labor}
{gas, price, oil}
{debt, indebtedness, cash}
{regulation, government, change}
The continuing constriction of the credit markets could limit our ability to access capital and increase our costs of capital. The reduction in availability of mortgage financing has adversely affected our business, and the duration and ultimate severity of the effects are uncertain. Our strategies in responding to the adverse conditions in the homebuilding industry have had limited success, and the continued implementation of these and other strategies may not be successful. A return of inflation could adversely affect our business and financial results, particularly in a period of oversupply of homes. The homebuilding industry is cyclical and affected by changes in general economic, real estate or other business conditions that could adversely affect our business or financial results. The risks associated with our land and lot inventory could adversely affect our business or financial results. Supply shortages and other risks related to demand for building materials and skilled labor could increase our costs and delay deliveries. Increases in the costs of owning a home could prevent potential customers from buying our homes and adversely affect our business or financial results. Governmental regulations could increase the cost and limit the availability of our development and homebuilding projects and adversely affect our business or financial results. Governmental regulation of our financial services operations could adversely affect our business or financial results. Homebuilding is subject to home warranty and construction defect claims in the ordinary course of business that can be significant. Our substantial debt could adversely affect our financial condition. Homebuilding and financial services are very competitive, and competitive conditions could adversely affect our business or financial results. We cannot make any assurances that any future growth strategies will be successful or not expose us to additional risks. We may not realize our deferred income tax asset.

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