Chanticleer
Plumbing materials supplier Reece has been belted by a slowdown in the US residential construction market, compounded by a glut of cheap, COVID-era home loans.
The ASX’s winter of downgrades just claimed another victim.
Plumbing materials group Reece, which has been a darling of investors for decades, plunged as much as 15 per cent on Friday after the company warned that the second half improvement in conditions it had expected simply hasn’t materialised.
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Original URL: https://www.afr.com/chanticleer/asx-darling-s-bizarre-housing-problem-too-many-cheap-us-mortgages-20250627-p5mau2
