PulteGroup Inc. and Lennar Corp. are among eight builders buying the first 726 lots at the Great Park Neighborhoods, a residential community in Orange County, California, that has struggled to open since 2005.
The U.S. House of Representatives is likely to pass a bill this year to reduce the influence of the government-backed Federal Housing Administration, Fannie Mae and Freddie Mac, Representative Scott Garrett said today.
Tri Pointe Homes Inc., the first U.S. homebuilder to go public since 2004, is altering designs and buying lots farther from city centers as land prices rise faster than expected, President Tom Mitchell said.
Intellectual Ventures, the Bellevue, Washington-based company started by former Microsoft Corp. chief technology officer Nathan Myhrvold, said it has settled a patent dispute with Lattice Semiconductor Corp.
U.S. industries tied to housing are likely to grow about four times as fast as the economy, making them top picks for investors, said Mark Kiesel, global head of corporate bond portfolios at Pacific Investment Management Co.