D.R. Horton’s Rental Arm Swings to Loss on $91.4MM Apartment Impairment as Rates Climb

D.R. Horton’s rental arm swung to a fiscal fourth-quarter loss after the nation’s largest homebuilder took $91.4 million in impairments on nine completed apartment projects, a hit its executives tied directly to the spike in interest rates and the lower prices investors are now expected to pay.