Earnings reported in Bloomberg story HERE for D.R. Horton, a large national builder, show that their earnings were increased by more than $149 million as a result of the change in law last year that allowed a 5 year carry back of losses.
Coupled with $512 million earlier tax carry back earnings increases for LENNAR and KB Home (see earlier post HERE), the total increase in tax carry back earnings increases for these 3 companies now totals $661 million. As I mentioned in earlier post, there is NO requirement for job creation or construction of additional homes associated with this tax break.
Originally created and posted on the Oregon Housing Blog.
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