D.R. Horton (DHI)

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Sharp drop in home orders D.R. Horton reported orders for new homes plunged 39% and cancellations spiked as the U.S. housing market deteriorated. Decline of 50 percent in housing stocks make them attractive The stock price of D.R. Horton, one of the largest homebuilder, soared after Citigroup announced that the decline of approximately 50 percent in the industry has made the stocks attractive. The bank expects the earnings to return to normalcy in the fourth quarter after the recent crisis in the subprime mortgage market. This led to an increase of 65 cents in its stock price on October 1, 2007.

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