LA Times - "Glum Outlook Is Offered by Home Builders" (9-7-06)

"KB cuts a profit forecast, Hovnanian posts lower earnings and Toll's CEO sees a parallel with a steep 1980s downturn."

"Citing weaker-than-expected demand, Los Angeles-based KB Home cut its full-year profit forecast for the second time in three months. Separately, Red Bluff, N.J.-based Hovnanian Enterprises Inc. said quarterly profit dropped 36%."

"And Robert Toll, chief executive of Horsham, Pa.-based Toll Bros. Inc., told Reuters that the current national housing slump was worse than the 'soft landing' predicted by some."