906163--2/25/2009--NVR

related topics

{gas, price, oil}

{condition, economic, financial}

{loan, real, estate}

{cost, regulation, environmental}

{cost, operation, labor}

{capital, credit, financial}

{debt, indebtedness, cash}

The homebuilding industry is experiencing a significant downturn. The continuation of this downturn could adversely affect our business and our results of operations. If the market value of our inventory or controlled lot position declines, our profit could decrease and we may incur losses. Because almost all of our customers require mortgage financing, the availability of suitable mortgage financing could impair the affordability of our homes, lower demand for our products, and limit our ability to fully deliver our backlog. If our ability to sell mortgages to investors is impaired, we may be required to fund these commitments ourselves, or may not be able to originate loans at all. Interest rate movements, inflation and other economic factors can negatively impact our business. Our inability to secure and control an adequate inventory of lots could adversely impact our operations. Volatility in the credit and capital markets may impact our ability to access necessary financing. Our current indebtedness may impact our future operations. Government regulations and environmental matters could negatively affect our operations. We face competition in our housing and mortgage banking operations. A shortage of building materials or labor, or increases in materials or labor costs may adversely impact our operations.

Full 10-K form ▸

906163--2/25/2009--NVR_INC