As economic headwinds get gusty, and the markets get choppy, some builders are back on their heels in defense. Others get set to pounce.
By John McManus | Builder
It almost doesn’t matter exactly when the next downturn in housing occurs.
It will occur. There’s always a next one. For America’s leading home building enterprises, where land investment exposes billions of dollars of capital to downturn risk, it’s never too early to prepare for it, just as it’s never too early to prepare to unleash growth during residential real estate’s next cyclical recovery.
Leaders of the nation’s top home builders face a paradox. They can neither escape residential real estate and business cycles, nor can they escape an existential need to develop business resilience across and through them.