Applying The Wal-Mart Model To Housing
"By adapting the discount retailer's concept of low overhead to housing, Arlington, Texas-based D.R. Horton has taken on small and medium-sized builders that can't match its economies of scale. What's more, the company has stayed more nimble than its rivals because its operations are decentralized.
...In large measure, D.R. Horton grew very big very fast because of its aggressive push into California, where it focuses on entry-level and "first-time move-up" homes priced at less than $600,000. About 40% of D.R. Horton's $975.1 million in annual profit comes from the Golden State."
Thanks to Chris Steins