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The nation’s largest homebuilder said Tuesday it swung to a loss in the second quarter, as a sustained housing slump forced it to take hefty charges and write down the value of property.
D.R. Horton posted a loss of $1.31 billion, or $4.14 per share, compared with year- ago profit of $51.7 million, or 16 cents per share. The latest period includes pretax write-down charges of $834.1 million. Revenue plunged to $1.62 billion from $2.62 billion a year ago.
