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* Some investors who own stocks of home builders have been absolutely spooked by two months of declining housing starts--even though starts overall remain at relatively high levels nationwide. Shares of Kaufman & Broad have slumped 21% since March 24, to $26.38 on Wednesday; Lennar Corp. shares are down 29% since April 17, to $25.50. The exception: Pulte Corp., whose shares, now at $56.06, are just under their 52-week high.

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