Four years ago, homebuilder giant D.R. Horton created its line of affordable homes targeted at first time homebuyers, which are now becoming increasingly more popular.
The Express brand, the builder’s lower-margin business which caters to first-time homebuyers, made new homes affordable to younger generations despite stricter lending standards and rising land prices, according to an article by Arunima Banerjee for Reuters.
In fact, Express homes made up more than one-third of homes sold and more than one-fourth of total home sales in the latest quarter, the company reported Wednesday, according to the article.
From the article:
D.R. Horton said the unit is expected to grow at least 10 percent to 15 percent over the next three years.
“While the new tax laws may affect the upper-end home buyers and owners, there is…