Bruce Karatz Quotations

This is a vision Kaufman and Broad shares with Henry Cisneros, and together we have the resources and expertise to make vital new neighborhoods a reality.

I don't believe there is a housing bubble bursting. I think there will be an evening off of demand and an evening off of price escalation. We won't see the big rises we've enjoyed in recent years. But that doesn't mean there will be a downturn.

I hate to second guess those on the ground, living with it every day. But the institutions and entities (in New Orleans) have not been able to get much going on the residential side.

It is not Martha Stewart's home. It is a home inspired by one of Martha's homes. At the same time, we didn't just grab her and throw her name on some houses that we built.

It is not Martha Stewart's home, ... It is a home inspired by one of Martha's homes. At the same time, we didn't just grab her and throw her name on some houses that we built.

Nationally, it is clear that some housing markets have moderated from the over-heated and, in some cases, speculative pace of growth of the past few years. In our view, this tempering of demand to more sustainable long-term levels is a healthy trend for our company and the industry. There are signs of cooling in the hottest markets on both coasts and a shift in investor activity from buying to selling, resulting in less demand and increased supply in certain markets. Once these factors work their way through current housing supplies, however, we expect the market to move to a new equilibrium which will provide a platform for continuing and sustainable growth by KB Home. With this outlook and our healthy first-quarter performance, we feel confident in maintaining our earnings estimate of $11.25 per diluted share for 2006.

There are signs of cooling in the hottest markets on both coasts and a shift in investor activity from buying to selling, resulting in less demand and increased supply in certain markets. Once these factors work their way through current housing supplies, however, we expect the market to move to a new equilibrium which will provide a platform for continuing and sustainable growth by KB Home.

Within a few weeks of offering the homes in Cary we sold all the lots we could sell in the grand opening phase. This initial response from consumers shows that KB Home builds what people want to buy. We are changing the way homes are bought and sold in America and we firmly believe this momentum will continue into South Fulton County.

This distinction is a reflection of our continued achievements, which, this year, include $9.44 billion in revenue, $842.4 million in income, the delivery of 37,140 homes and a $6.77 billion in backlog.

If you were to go out and design and build them yourself, it would cost you many times that.