Chinese drywall: Manufacturer, builder settle

Sarasota Herald-Tribune, a leader on covering Chinese drywall issues, reports that Beazer, an Atlanta homebuilder, has reached a settlement with KPT, one of the two firms that made the nasty stuff. It sounds like official announcement would occur next week.

Beazer’s practice was to basically gut the interior of the home, including removing all electrical wiring. If you are estimating ultimate losses, note this: Beazer spent between $46 and $53 per square foot to repair homes (around $100,000 for a 2,000-square-foot home). A typical homeowner would pay more, because they would lack bargaining power and overhead expenses would typically run higher.

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