D.R. Horton's stock dives as lower prices for new homes hurt profits

Shares of D.R. Horton Inc. were suffering the biggest selloff in nearly four years on Tuesday, after the homebuilder missed profit expectations, as elevated incentives to buy new homes ate into margins.And given current affordability challenges, that pressure on margins, and therefore profitability, is likely to continue in the near term, the company said.The stock DHI, -9.58% tumbled 9.6% toward a six-week low in midday trading, which puts it on track to suffer the biggest one-day drop since the record 20. ...