Report
Brian Bernard
EUR 100.00 For Business Accounts Only

We've Tempered Our Outlook for U.S. Residential Construction; Homebuilder FVEs Modestly Lower

After taking a fresh look at the assumptions underlying our housing starts projections and considering recent trends in key housing data, we've lowered our expectations for new construction over the next decade. We now expect about 15 million cumulative housing starts between 2018 and 2027, about a 10% reduction from our previous forecast of approximately 16.8 million.  
However, with some housing pundits proclaiming the housing market has peaked, we believe our revised forecast is still bullish...
Underlying
Toll Brothers Inc.

Toll Brothers designs, builds, markets, sells, and arranges financing for residential single-family detached, attached home, master planned resort-style golf, and urban communities. The company also designs, builds, markets, and sells urban condominiums through Toll Brothers City Living?. The company operates its own architectural, engineering, mortgage, title, land development, golf course development, and landscaping subsidiaries. The company also operates its own security company, TBI Smart Home Solutions, which provides homeowners with home automation and technology options. In addition, the company operates its own lumber distribution, house component assembly, and manufacturing operations.

Provider
Morningstar
Morningstar

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.

We have operations in 27 countries.

Analysts
Brian Bernard

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