Habitat for Humanity is a big builder
The not-for-profit builder of affordable housing was the eighth-largest in the United States in 2009.
We're not making this up. Builder Magazine ranks Habitat for Humanity, the nonprofit builder and remodeler of homes, as the eighth-largest builder in terms of transactions closed.
The ranking was based on 2009 transactions. Habitat for Humanity was ranked ahead of Ryland Group (RYL) but behind Hovnanian (HOV).
In 2008, Habitat for Humanity was ranked 11th.
The organization enjoyed 5,294 closings in 2009, down 3% from 2008. It expects to close about 5,000 deals this year, The Wall Street Journal said.
By contrast, Ryland's closings fell 30%. Hovnanian's fell 50%.
Habitat's ability to outbuild some of those big corporate builders reflects the insatiable demand for affordable housing in a nation where more than a quarter of the population can't afford a median-priced home in their area.
Habitat has some advantages by being a nonprofit. It receives donated building products and relies heavily on volunteers for construction. It can have just one paid staffer on a build site.
The recession has hurt Habitat's finances, the Journal noted. The group laid off 8% of its corporate staff last year, and its cash donations declined 9% from a year earlier to $171.8 million.
Copyright © 2013 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
[BRIEFING.COM] Equities ended on their lows with the S&P 500 down 1.4%.
The S&P entered today's session with a week-to-date gain of 1.5% as investors expected reassuring words from today's Federal Open Market Committee Statement.
Stocks traded with slim losses until this afternoon's FOMC Statement and subsequent comments from Chairman Bernanke sent equities and Treasuries to their lows while also providing a significant boost to the dollar.
Today's Statement was ... More
More Market News
|There’s a problem getting this information right now. Please try again later.|
LATEST MARKET DISPATCHES
- No more Dispatches; here's where to find market news
The Market Dispatches column has been discontinued. Here's where to find the latest stock and business news on MSN Money, and the latest from market writer Charley Blaine.
- Dow falls 59 as late-day gloom kills a rally
- Stocks held back by fiscal-cliff worries
- Stocks suffer worst weekly loss in 5 months
- Dow off 121 as post-election swoon continues
- Dow slumps 313 after Obama's re-election
- Dow jumps 133 as Americans head to the polls
Plus, after much ado, Softbank is oh-so-close to acquiring Sprint.