KeyBanc Favors Favors Accumulated Wealth For Investing for Homebuilders; Downgrades MDC & DHI

In a report published Friday, KeyBanc Capital Markets analyst Kenneth Zener updated their macro view of the housing sector in 2014, favoring “exposure to wealth vs income trends.” Zener downgraded MDC (NYSE: MDC ) and DR Horton (NYSE: DHI ) from Buy to Hold and increased the