From Builder Magazine – KB Home Estimates Defect Repairs to Cost $43.2 Million

Maybe KB should have spent a little more on waterproofing and quality control rather than executive bonuses? Just saying…

California-based builder expects to spend $43.2 million to repair more than 1,000 homes in central and southwest Florida with water damage caused by construction defects.

By 
Teresa Burney

Fixing construction defects in more than 1,000 Florida homes is expected to cost KB Home $43.2 million, according to the builder's second quarter filing with the U.S. Securities and Exchange Commission.

There are 1,140 central and southwest Florida KB houses built between 2003 and 2009 that need more than minor repairs from water damage caused by defective framing, stucco, roofing, and sealant installation. The $43.2 million sum is for repairs to those houses as well as fixes to homes the company thinks are likely to be identified later.

READ THE REST HERE 

http://www.builderonline.com/business/kb-home-estimates-defect-repairs-to-cost-432-million.aspx

Bill Leys-The Deck Expert

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