Multifamily Starts Rebound in July, but Single-Family Starts Miss Our Expectations
We've trimmed our 2016 housing starts forecast, as single-family activity through July has been weaker than expected. Our single-family forecast slips to 795,000 units from 845,000, while our multifamily forecast rises to 390,000 units from 375,000. We now expect total starts of 1.19 million in 2016, or a 7% improvement from 2015. We remain confident in our bullish long-term outlook, so there is limited impact on valuations across our wood products and homebuilder coverage. No-moat lumber produc...D.R. Horton is a homebuilding company. The company's business operations consist of homebuilding, a majority-owned residential lot development company, financial services and other activities. The company's financial services operations provide mortgage financing and title agency services to homebuyers in its homebuilding markets. The company's subsidiary, DHI Mortgage, provides mortgage financing services primarily to its homebuyers and generally sells the mortgages it originates and the related servicing rights to third-party purchasers. The company's subsidiary title companies serve as title insurance agents by providing title insurance policies, examination and closing services, primarily to its homebuyers.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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