In the steel cage match between hope and despair in the Mexican home building industry, hope got in a headbutt in back in the middle of April, but despair has pretty much had the industry in a figure four leglock ever since. None of the major publicly-traded builders - Homex (NYSE:HXM), GEO (OTCPK:CVGFY), Urbi (OTCPK:URBDY) or Ara (OTC:CNRFF) - are doing well, and the middle two (GEO and Urbi) have been halted since midsummer after postponing their second quarter releases indefinitely.
There are a range of issues impacting this industry. Not unlike what happened in the U.S., many Mexican homebuilders took on debt thinking the building boom could only continue, but housing...
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