Pulte Homes lost $122-million in Florida in the three months ending June 30. This is a builder that made $1.2-billion in profits in Florida from 2003 to 2006.
Lennar bled $214-million in just three months this year in its Southeast region, which prominently includes Florida. That's a half-billion-dollar swing from the same period in 2006 when the company made $300-million in the Southeast.
Standard-Pacific lost $24.6- million in its Southeast division and, in a note to its shareholders, singled out Tampa for dragging down business.
KB Home lost nearly $50-million in Florida, Georgia and North Carolina. Heavy into the Tampa-area suburbs, KB said it cut prices by a third locally since January, a move that's improved sales but decimated profits.
"I haven't talked to a happy builder in about two years," said Marvin Rose, a Tampa Bay area housing analyst who advises local builders.