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BUILDING
Standard Pacific to build more
The California home builder expects to grow earnings by 15% in '06 by increasing unit volume to make up for lower home prices. Chief Financial Officer Andrew Parnes told analysts it will be "challenging" to sustain profit margins, which are at all-time highs. He said Standard Pacific plans to open 150 new communities in '06 vs. 100 openings this year. Shares rose 1% to 37.69.
Industry seen ready for pullback
MDC Holdings' chief financial officer told a gathering of analysts that the home-building industry is better prepared for a possible decline in the coming years than it was in the late '80s. That housing industry decline caused several builders to fall into ...