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NEW YORK - In a July 1 story about a JP Morgan analyst note on homebuilders, The Associated Press erroneously reported two of analyst Michael Rehaut's statements.
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Rehaut said he expects new legislation will curtail many downpayment assistance programs, not that the programs were running out of money.
Rehaut also said cash flow generation at homebuilders is likely to flatten or decline in the next 18 months, not that homebuilders are having trouble generating cash flow.
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