Toll Brothers Inc. on Thursday cut its profit outlook for the current year and put its forecast for 2007 in doubt, citing the nation’s slowing housing market and increasing difficulty in obtaining regulatory approval to build.
The luxury homebuilder’s lowered forecast, which it signaled last month in a company statement, came a day after a profit forecast from rival Hovnanian Enterprises Inc. disappointed Wall Street. Hovnanian reported hurricane-delayed construction, labor and material shortages, and delays in getting building permits.
