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German Brewers Face ‘Unprecedented’ Beer Bottle Shortage

Stefan Fritsche, who runs a centuries-old German brewery in Neuzelle, near the Polish border, has seen his natural gas bill jump a startling 400 percent over the past year. His electricity bill has increased 300 percent. And he’s paying more for barley than ever before.

But the soaring inflation for energy and grains in the wake of the Ukraine war is no match for the biggest challenge facing Mr. Fritsche’s brewery, Klosterbrauerei Neuzelle, and others like it across Germany: a severe shortage of beer bottles.

The problem is “unprecedented,” Mr. Fritsche said. “The price of bottles has exploded.”

The issue is not so much a lack of bottles. Germany’s roughly 1,500 breweries have up to four billion returnable glass bottles in circulation — about 48 for every man, woman and child.

recycling, it comes with one major problem: getting people to return their empties.

Dragging a crate — or several — of empty glass bottles back to a store can be a hassle, even if it means getting back the deposit fee. So people tend to let them stack up, in the basements of their homes or on the balconies of their apartments, biding their time until they are running out of either space or spare cash.

“It is deadly for small brewers,” Mr. Fritsche said. The brewery he runs sells 80 percent of its beer in bottles. (In 2003, a recycling law was expanded to focus on reducing waste in the beverage industry, meaning most beer sold for the domestic market is in returnable bottles, not cans.)

annual survey by Kirin, the Japanese brewer. (The United States ranked 17th.) But on the whole, Germans are cutting back. Since the Federal Statistics Office began keeping records in 1993 — a year after Mr. Fritsche’s family took over the brewery in Neuzelle — national consumption of beer has dropped nearly 24 percent, as people embrace a wider diversity of soft drinks.

Lockdowns surrounding the coronavirus over the past two years also contributed to the trend, as bars remained closed and sporting and cultural events were canceled.

The difficult environment makes management of the breweries all the more important. Mr. Fritsche said he had relied for decades on a combination of tradition and creativity.

A willingness to push the boundaries and think around the corner is essential to surviving in a tougher business environment, he said. For example, the brewery has a bottle of its signature product, Schwarzer Abt, or Black Abbot, that has been blessed by Pope Francis. The bottle is now dipped into each fresh batch of Schwarzer Abt.

What helps, too, is taking a long view of the history that comes with running a business founded in 1589, the events that it has witnessed and withstood over time.

“Nazis, Communists, government takeovers — in the past, we’ve had just about everything here,” Mr. Fritsche said. “And we have survived it all. We will get through this as well.”

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Why a Not-So-Hot Economy Might Be Good News

When it comes to the economy, more is usually better.

Bigger job gains, faster wage growth and more consumer spending are all, in normal times, signs of a healthy economy. Growth might not be sufficient to ensure widespread prosperity, but it is necessary — making any loss of momentum a worrying sign that the economy could be losing steam or, worse, headed into a recession.

But these are not normal times. With nearly twice as many open jobs as available workers and companies struggling to meet record demand, many economists and policymakers argue that what the economy needs right now is not more, but less — less hiring, less wage growth and above all less inflation, which is running at its fastest pace in four decades.

Jerome H. Powell, the Federal Reserve chair, has called the labor market “unsustainably hot,” and the central bank is raising interest rates to try to cool it. President Biden, who met with Mr. Powell on Tuesday, wrote in an opinion article this week in The Wall Street Journal that a slowdown in job creation “won’t be a cause for concern” but would rather be “a sign that we are successfully moving into the next phase of recovery.”

“We want a full and sustainable recovery,” said Claudia Sahm, a former Fed economist who has studied the government’s economic policy response to the pandemic. “The reason that we can’t take the victory lap right now on the recovery — the reason it is incomplete — is because inflation is too high.”

undo much of that progress.

“That’s the needle we’re trying to thread right now,” said Harry J. Holzer, a Georgetown University economist. “We want to give up as few of the gains that we’ve made as possible.”

Economists disagree about the best way to strike that balance. Mr. Powell, after playing down inflation last year, now says reining it in is his top priority — and argues that the central bank can do so without cutting the recovery short. Some economists, particularly on the right, want the Fed to be more aggressive, even at the risk of causing a recession. Others, especially on the left, argue that inflation, while a problem, is a lesser evil than unemployment, and that the Fed should therefore pursue a more cautious approach.

But where progressives and conservatives largely agree is that evaluating the economy will be particularly difficult over the next several months. Distinguishing a healthy cool-down from a worrying stall will require looking beyond the indicators that typically make headlines.

“It’s a very difficult time to interpret economic data and to even understand what’s happening with the economy,” said Michael R. Strain, an economist with the American Enterprise Institute. “We’re entering a period where there’s going to be tons of debate over whether we are in a recession right now.”

11.4 million job openings at the end of April, close to a record. But there are roughly half a million fewer people either working or actively looking for work than when the pandemic began, leaving employers scrambling to fill available jobs.

The labor force has grown significantly this year, and forecasters expect more workers to return as the pandemic and the disruptions it caused continue to recede. But the pandemic may also have driven longer-lasting shifts in Americans’ work habits, and economists aren’t sure when or under what circumstances the labor force will make a complete rebound. Even then, there might not be enough workers to meet the extraordinarily high level of employer demand.

Persistently weak pay increases were a bleak hallmark of the long, slow recovery that followed the last recession. But even some economists who bemoaned those sluggish gains at the time say the current rate of wage growth is unsustainable.

“That’s something that we’re used to saying pretty unequivocally is good, but in this case it just raises the risk that the economy is overheating further,” said Adam Ozimek, chief economist of the Economic Innovation Group, a Washington research organization. As long as wages are rising 5 or 6 percent per year, he said, it will be all but impossible to bring inflation down to the Fed’s 2 percent target.

Fed officials are watching closely for signs of a “wage-price spiral,” a self-reinforcing pattern in which workers expect inflation and therefore demand raises, leading employers to increase prices to compensate. Once such a cycle takes hold, it can be difficult to break — a prospect Mr. Powell has cited in explaining why the central bank has become more aggressive in fighting inflation.

“It’s a risk that we simply can’t run,” he said at a news conference last month. “We can’t allow a wage-price spiral to happen. And we can’t allow inflation expectations to become unanchored. It’s just something that we can’t allow to happen, and so we’ll look at it that way.”

speech in Germany this week, Christopher J. Waller, a Fed governor, argued that as demand slows, employers are likely to start posting fewer jobs before they turn to layoffs. That could result in slower wage growth — since with fewer employers trying to hire, there will be less competition for workers — without a big increase in unemployment.

“I think there’s room right now for inflation to come down a significant amount without unemployment coming up,” said Mike Konczal, an economist at the Roosevelt Institute.

The Fed’s efforts to cool off the economy are already bearing fruit, Mr. Konczal said. Mortgage rates have risen sharply, and there are signs that the housing market is slowing as a result. The stock market has lost almost 15 percent of its value since the beginning of the year. That loss of wealth is likely to lead at least some consumers to pull back on their spending, which will lead to a pullback in hiring. Job openings fell in April, though they remained high, and wage growth has eased.

“There’s a lot of evidence to suggest the economy has already slowed down,” Mr. Konczal said. He said he was optimistic that the United States was on a path toward “normalizing to a regular good economy” instead of the boomlike one it has experienced over the past year.

But the thing about such a “soft landing,” as Fed officials call it, is that it is still a landing. Wage growth will be slower. Job opportunities will be fewer. Workers will have less leverage to demand flexible schedules or other perks. For the Fed, achieving that outcome without causing a recession would be a victory — but it might not feel like one to workers.

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Signature Bank Appoints Corporate Mortgage Finance Group

NEW YORK–(BUSINESS WIRE)–Signature Bank (Nasdaq: SBNY), a New York-based, full-service commercial bank, announced today the appointment of its Corporate Mortgage Finance (CMF) Group. The CMF group provides financing solutions for a range of mortgage-related collateral across Signature Bank’s national footprint. The Signature Bank CMF Group is experienced in understanding the complexities of the mortgage origination, servicing and investment sectors and works with clients to structure commercial and residential mortgage-supported financing facilities to meet their strategic liquidity and balance sheet management needs.

Heading the new CMF team is Kenneth D. Logan, Certified Mortgage Banker (CMB), who brings more than 35 years of real estate finance, warehouse lending, asset-backed structured lending and corporate finance to his new role as Managing Group Director and Senior Vice President. In this capacity, Logan oversees the Group’s strategy, direction and execution as well as handles portfolio and credit management responsibilities. Prior to joining Signature Bank in 2021, Logan spent 12 years at Wells Fargo Bank, N.A. and Wells Fargo Securities, LLC (including time at predecessor Wachovia Bank) as Managing Director of the Mortgage Banker Finance Group, which he founded and headed. In this role, Logan had executive leadership and daily management oversight of all aspects of this business. During his career, he also founded and led four successful mortgage finance groups for other large institutions and was a founding shareholder of a community bank, also engaged in mortgage finance.

On the heels of Logan’s appointment, other key banking professionals were added to the CMF Group, which now totals 14 colleagues. Several of these individuals previously worked together at their former institutions.

Kelly Kucsma was appointed Director of CMF Operations and Senior Vice President, responsible for all operational areas of CMF, including client onboarding, individual loan approvals, loan level and client level monitoring and treasury functions related to funding and repayment of transactions. Kucsma spent 21 years at Wells Fargo Bank (and predecessor Wachovia Bank) in Charlotte, N.C., most recently as Director, Warehouse Lending Operations and Transactional Due Diligence within their Asset Backed Finance and Mortgage Banker Finance Group. During her tenure, she held a range of mortgage banking related leadership roles, spending 14 years specifically in Warehouse Lending Operations.

Paul Tirella and Michelle Marrapodi were each named Associate Group Director and Vice President – CMF, handling business development and relationship management, working with mortgage lenders, aggregators and servicers nationwide to represent Signature Bank’s suite of financing services to the mortgage industry. This includes the financing of residential, business purpose, multi-family and commercial mortgage loans and servicing rights.

Tirella joins from Bank United where he was a Vice President – Business Development for the Residential Warehouse Group. For five years, he aided in growing the residential mortgage warehouse lending business, sourcing a plethora of counterparties, which led to the business line’s expansion. Other roles included banking relationship management and credit-related positions at UBS and JPMorgan Chase & Co., among others.

Marrapodi, with more than three decades of banking experience, had been Senior Vice President, Warehouse Lending at Prosperity Bank. In this position, she developed and managed warehouse lending relationships with independent mortgage banking firms nationwide. Throughout her career, Marrapodi held related roles at ZAIS Group, EverBank, Astoria Federal Savings, MetLife Home Loans and Credit Suisse First Boston, just to name a few.

Keith Ashworth was appointed to Operations Manager and Vice President for the CMF Group, where he manages non-treasury operations for CMF. Bringing more than two decades of experience to his role, Ashworth was Operations Manager and Vice President at Wells Fargo in Atlanta for 12 years, during which time he worked with both Logan and Kucsma.

Michael Tenkerian, with 20 years of industry related experience, was named Vice President and Treasury Manager for the CMF Group, overseeing cash management and wire transactions. Previously, he spent seven years at Bank of Hope in California as Senior Vice President and head of Warehouse Lending.

Melissa Marini, with 21 years of financial services and mortgage banking expertise, is Vice President of Specialty Operations for the CMF Group, where she evaluates applicable lending opportunities for the Group. She also joins from Wells Fargo Bank (Charlotte), where she was an underwriter for 15 years and worked with certain members of the Signature Bank CMF Group.

Jason Carter, as Vice President, Underwriter and Portfolio Manager with CMF, handles reviewing of financial and collateral information for prospects and oversees a portfolio of direct and indirect asset-based credit facilities. He manages the loan documentation process coordinating activities with underwriters, field examiners and operations staff to ensure proper ongoing account administration. For five years prior to joining Signature Bank, Carter was Vice President – Portfolio Manager at Associated Bank in Chicago.

Christine Castner was also appointed to the post of Vice President, Underwriter and Portfolio Manager with CMF, primarily underwriting new facilities and monitoring existing deals. With a career spanning 30 years, she spent the past eight as Vice President, Senior Credit Analyst at Prosperity Bank before joining the CMF Group. Castner also was Senior Credit Officer, Warehouse Lending at Ally Bank and spent 10+ years with GMAC/RFC, starting as an analyst and then moving into the credit officer role.

Other professionals with substantial mortgage finance experience rounding out the CMF Group are:

“Throughout the past decade, we have demonstrated many times over to the marketplace our keen ability to identify opportunities for adding complementary business lines and attracting veteran teams who built an expertise within their areas. We have nurtured these initiatives, delivering solid results across the board. The CMF Group will be no exception. We have assembled a group of top-notch professionals who possess extensive warehouse lending experience, all of whom bring distinct talents within this novel space to our enterprise. With the addition of these seasoned colleagues, we look forward to the increasing contributions the CMF team will make as well as the business line’s growth and impact,” explained Joseph J. DePaolo, Co-founder, President and Chief Executive Officer at Signature Bank.

Logan commented on his development of the CMF Group: “The Bank’s mission-driven approach and client-centric philosophy affords my team the chance to truly leverage our vast expertise, build our business line and grow autonomously. All the professionals in the new CMF Group bring a deep expertise within our niche business, which will bode well for the Bank’s growth as it moves forward in this arena.”

About Signature Bank

Signature Bank (Nasdaq: SBNY), member FDIC, is a New York-based, full-service commercial bank with 38 private client offices throughout the metropolitan New York area, as well as those in Connecticut, California and North Carolina. Through its single-point-of-contact approach, the Bank’s private client banking teams primarily serve the needs of privately owned businesses, their owners and senior managers.

The Bank has two wholly owned subsidiaries: Signature Financial, LLC, provides equipment finance and leasing; and, Signature Securities Group Corporation, a licensed broker-dealer, investment adviser and member FINRA/SIPC, offers investment, brokerage, asset management and insurance products and services.

Since commencing operations in May 2001, Signature Bank reached $121.85 billion in assets and $109.16 billion in deposits as of March 31, 2022. Signature Bank placed 19th on S&P Global’s list of the largest banks in the U.S., based on deposits at year-end 2021.

Signature Bank was the first FDIC-insured bank to launch a blockchain-based digital payments platform. Signet™ allows commercial clients to make real-time payments in U.S. dollars, 24/7/365 and was also the first solution to be approved for use by the NYS Department of Financial Services.

For more information, please visit https://www.signatureny.com.

This press release and oral statements made from time to time by our representatives contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. You should not place undue reliance on those statements because they are subject to numerous risks and uncertainties relating to our operations and business environment, all of which are difficult to predict and may be beyond our control. Forward-looking statements include information concerning our expectations regarding future results, interest rates and the interest rate environment, loan and deposit growth, loan performance, operations, new private client teams’ hires, new office openings, business strategy and the impact of the COVID-19 pandemic on each of the foregoing and on our business overall. Forward-looking statements often include words such as “may,” “believe,” “expect,” “anticipate,” “intend,” “potential,” “opportunity,” “could,” “project,” “seek,” “target,” “goal,” “should,” “will,” “would,” “plan,” “estimate” or other similar expressions. As you consider forward-looking statements, you should understand that these statements are not guarantees of performance or results. They involve risks, uncertainties and assumptions that could cause actual results to differ materially from those in the forward-looking statements and can change as a result of many possible events or factors, not all of which are known to us or in our control. These factors include but are not limited to: (i) prevailing economic conditions; (ii) changes in interest rates, loan demand, real estate values and competition, any of which can materially affect origination levels and gain on sale results in our business, as well as other aspects of our financial performance, including earnings on interest-bearing assets; (iii) the level of defaults, losses and prepayments on loans made by us, whether held in portfolio or sold in the whole loan secondary markets, which can materially affect charge-off levels and required credit loss reserve levels; (iv) changes in monetary and fiscal policies of the U.S. Government, including policies of the U.S. Treasury and the Board of Governors of the Federal Reserve System; (v) changes in the banking and other financial services regulatory environment; (vi) our ability to maintain the continuity, integrity, security and safety of our operations and (vii) competition for qualified personnel and desirable office locations. All of these factors are subject to additional uncertainty in the context of the COVID-19 pandemic and the conflict in Ukraine, which are having impacts on all aspects of our operations, the financial services industry and the economy as a whole. Additional risks are described in our quarterly and annual reports filed with the FDIC. Although we believe that these forward-looking statements are based on reasonable assumptions, beliefs and expectations, if a change occurs or our beliefs, assumptions and expectations were incorrect, our business, financial condition, liquidity or results of operations may vary materially from those expressed in our forward-looking statements. You should keep in mind that any forward-looking statements made by Signature Bank speak only as of the date on which they were made. New risks and uncertainties come up from time to time, and we cannot predict these events or how they may affect the Bank. Signature Bank has no duty to, and does not intend to, update or revise the forward-looking statements after the date on which they are made.

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Amateur Investors Rode the Bull Up. Now the Bear Looms.

Millions of amateur investors got into the stock market during the pandemic — some gingerly, some aggressively, some determined to teach Wall Street bigwigs a lesson — and almost couldn’t help but make money, riding a bull market for the better part of two years.

Now they may have to wrestle with a bear.

“It definitely isn’t as easy to trade in this market,” said Shelley Hellmann, a 47-year-old former optometrist in Texas who began actively investing in April 2020 while isolating from her family.

Tracking stock movements on an iPad Mini in her bedroom, she banked big gains as the market soared. Within a couple of months, she was considering making day trading a full-time gig. But since the S&P 500 peaked on Jan. 3, profits have been harder to come by.

“Sometimes I am glad to not be red for the year,” she said.

Five months of bumpy declines have put the S&P 500 on the precipice of a bear market — a drop of 20 percent or more from its most recent high, which is considered a psychological marker of investors’ dimmed view of the economy. Including a tumble of 4 percent on Wednesday, the index is down more than 18 percent from its peak on Jan. 3.

bored sports bettors or meme-stock aficionados who piled into GameStop — have tapped the brakes, or scrambled to shuffle their portfolios into more defensive positions.

grim reaper slaying low interest rates and stock market bulls.

bid-ask spread — the small difference between the highest price a buyer is willing to pay and the lowest a seller is willing to accept — kept costing him fractions that added up.

By January, some of his classes had resumed in person, and with them his onerous commute from the Bronx. Instead of trading for an hour every morning, he cut back to twice a week. The market was also becoming a lot choppier, and it was increasingly difficult to hold his positions. He had always used stop-loss orders — instructions to sell when a stock dropped to a certain price — to prevent disastrous declines. But with constant drops, he kept getting pushed out of his trades.

which measures retail investors’ behavior and sentiment, based on a sample of accounts that completed trades in the past month. Their interests have been shifting toward less volatile names and more stable holdings like shorter-term bonds, the firm said.

Ms. Hellmann, who started actively trading in the early days of the pandemic, said she was sticking with it, learning more and refining her approach as she goes along.

She often rises at 3 a.m. and turns on CNBC to begin plotting her strategy for the day, which involves studying stocks’ price movements, a process she compared to learning to catch a softball — watching its arc, then trying to figure out the physics of where it will land. “That is what I’m doing with price and volume,” she said.

Long a buy-and-hold investor, she began with roughly $50,000 — money that came from shares of ConocoPhillips that she inherited in 2014 after the death of her grandfather, who had been a propane salesman. Her approach has grown increasingly complex over the past two years: Last fall, she took a large position in an exchange-traded fund that bets against the price of natural gas — which has gone up as Russia’s invasion of Ukraine roiled energy markets.

“The war causing natural gas to spike up at a time when it seasonally comes down did not help me much,” she said.

Even so, she’s more than quintupled her money since early 2020, riding the strength of a rally that has the S&P 500 up nearly 80 percent since it bottomed out in March 2020, even with its recent fall.

Experiencing losses after a period of gains can be instructive, said Dan Egan, vice president of behavioral finance and investing at Betterment, which builds and manages diversified portfolios of low-cost funds and provides financial planning services.

“If you have a good initial experience with investing, you see this is part of it, it will be OK,” he said. “We get bumps and bruises that you need to learn what pain feels like,” he said.

Eric Lipchus, 40, has felt plenty of pain in his nearly two decades of full-time day trading — he owned options on Lehman Brothers, the investment bank that imploded during the financial crisis of 2008-9. Before that, he had watched his older brother and father dabble in the markets during the dot-com boom and bust.

“I have been on a roller coaster,” he said. “I am making OK money this year but it’s been up and it’s been down. It seems like it could be a tough year — not as much upside as in previous years.”

Challenging conditions like investors are now facing can get stressful in a hurry, Mr. Lipchus said. Right now, he’s keeping half his portfolio in cash — and is taking a fishing trip to the Thousand Islands in a couple of weeks to clear his head.

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In London, a Long-Awaited High-Speed Train Is Ready to Roll

LONDON — When Andy Byford ran New York City’s dilapidated subway system, fed-up New Yorkers hailed his crusade to make the trains run with fewer delays and lamented his premature exit after clashes with the governor at the time, Andrew M. Cuomo. He was a familiar, unfailingly cheerful presence on its often-restive platforms. Straphangers even took to calling him “Train Daddy.”

Nobody calls Mr. Byford Train Daddy in London, where he resurfaced in May 2020 as the commissioner of the city’s transit authority, Transport for London. But on May 24, when he opens the Elizabeth line — the long-delayed, $22 billion-plus high-speed railway that uncoils from west and east underneath central London — he might find himself again worthy of a cheeky nickname.

“That was fun in New York,” said Mr. Byford, 56, a gregarious public transport evangelist who grew up in Plymouth, England, began his career as a tube-station manager in London, and has also run transit systems in Toronto and Sydney, Australia. “But I’m really enjoying almost complete anonymity in London.”

Second Avenue subway or the extension of the No. 7 line, which are tiny projects by comparison.”

Mr. Cuomo resigned last year, his successor, Gov. Kathy Hochul, put a proposed $2.1 billion AirTrain project to LaGuardia airport on ice. That leaves the newly renovated airport without a rail link to Manhattan, to the enduring frustration of many New Yorkers.

Heathrow Airport has had a subway link for decades. When the Elizabeth line’s next phase is opened in the fall, passengers will be able to travel from Heathrow to the banks at Canary Wharf in East London in 40 minutes; that is a prime selling point for a city desperate to hold on to its status as financial mecca after Brexit. All told, the line has 10 entirely new stations, 42 miles of tunnels and crosses under the Thames three times.

“We’re jealous, it’s fair to say,” said Danny Pearlstein, the policy director for Riders Alliance, a transportation advocacy group in New York. “Imagining a new, full-length underground line here is not something anyone is doing. The Second Avenue subway, which people have been talking about for 100 years, has three stations.”

To be fair, Transport for London is not without its problems. It has shelved plans to build a north-south counterpart to the Elizabeth line, not to mention an extension to the Bakerloo tube line, because of a lack of funding. Still reeling from a near-total loss of riders during pandemic lockdowns, the system faces many of the same financial woes as New York’s subway.

Though ridership has recovered from a nadir of 5 percent, it is still at only 70 percent of prepandemic levels. Transport for London is also heavily dependent on ticket fares to cover its costs, more so than the New York subway, which gets state subsidies, as well as funds from bridge and tunnel tolls.

“My other obsession is sorting out the finances,” Mr. Byford said. “One way is to wean us away from dependence on fares.”

He is somewhat vague about how to do that, and it is clear that Transport for London will depend on additional government handouts to get back on sound financial footing. That is why the opening of the Elizabeth line is so important to London: It makes a powerful case for public transportation at a time when people are questioning how many workers will ever return to their offices.

Mr. Byford lays out the case with the practiced cadence of a stump speech. The new line will increase the capacity of the system by 10 percent. Its spacious coaches are well suited to a world in which people are used to social distancing. It will revitalize economically blighted towns east of the city, while making central London accessible to people who live in far-flung towns to the east and west.

While Mr. Byford does not expect ridership ever to return completely, he thinks 90 percent is attainable. If office buildings remain underpopulated, London could develop like Paris, with more residential neighborhoods downtown. (The Elizabeth line bears a distinct resemblance to the high-speed RER system in Paris.) The line, he says, is an insurance policy against the “siren voices of doom” about Brexit.

At times, Mr. Byford slips perilously close to a real estate agent’s patter. “These super-high-tech stations simply ooze quality,” he said. But emerging from Liverpool Street, with its spectacular, rippling, pinstriped ceiling, it is hard to argue with his basic assertion: “This is a game changer.”

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KB Home Announces the Grand Opening of Three New-home Communities in the Highly Desirable and Thriving Valencia Master Plan

VALENCIA, Calif.–(BUSINESS WIRE)–KB Home (NYSE: KBH) today announced the grand opening of three new-home communities in the highly desirable Valencia® master plan in Valencia, California. Sage, Vesper and Crimson feature spacious single-family homes, paired homes and townhomes in Valencia’s scenic high country. The new neighborhoods are situated just off West Magic Mountain Parkway near the Interstate 5 and Highway 126 interchange, providing easy access to the area’s major employment centers as well as shopping, dining and entertainment at Westfield Valencia Town Center. The three communities are also minutes to outdoor recreation, including hiking/biking trails and several popular golf courses. Additionally, the new neighborhoods are convenient to the greater Los Angeles metropolitan area, popular beaches and other attractions.

Valencia is an exciting and thriving master plan with several new amenities, including a pool with cabanas and lounge areas as well as open space and walking trails. Future planned amenities will include shops, restaurants, additional pools and over 30 miles of interconnected trails and multimodal pathways to explore by foot, bike or Neighborhood Electric Vehicles (NEVs). Homeowners will also enjoy 10,000 acres of parks and open space and schools in the popular Newhall School District.

The single-family homes at Sage at Valencia showcase desirable design characteristics like open kitchens and great rooms perfect for entertaining, generous bedroom suites with retreats, walk-in closets and ample storage space. The community offers one- and two-story floor plans that feature up to five bedrooms and three baths, and range in size from approximately 2,300 to 2,800 square feet. Pricing begins from low $1M.

Vesper at Valencia offers a selection of paired homes that blend attractive design features like beautiful kitchens and large bedroom suites with walk-in closets as well as loft spaces and covered patios. The community’s floor plans feature up to four bedrooms and two-and-a-half baths, and range in size from approximately 1,700 to 2,200 square feet. Pricing begins from the low $800,000s.

The beautiful new townhomes at Crimson at Valencia offer spacious kitchens overlooking large great rooms, expansive bedroom suites and optional downstairs bedrooms or dens. The community’s floor plans feature up to four bedrooms and three-and-a-half baths, and range in size from approximately 1,800 to 2,000 square feet. Pricing begins from the mid $700,000s.

“Our three new communities, Sage, Vesper and Crimson, feature spacious single-family homes, paired homes and townhomes in a picturesque setting that offer a wide selection of floor plans. The new neighborhoods are compelling additions to the highly desirable Valencia master plan, which showcases several family friendly amenities, including a pool with cabanas and lounge areas as well as open space and walking trails,” said Keltie Cole, President of KB Home’s Los Angeles and Ventura County division. “The new communities are also convenient to Interstate 5 and Highway 126, providing access to the Los Angeles metropolitan area’s major employers and attractions. As with other KB Home communities, Sage, Vesper and Crimson provide home shoppers with the opportunity to purchase a personalized, new KB home at a price that fits their lifestyle and needs.”

KB Home stands out from other homebuilders as the company gives homebuyers exceptional choice and control. KB Home starts by offering a wide variety of homes at an affordable price. From there, the builder gives buyers the ability to personalize their homes from floor plans to exterior elevations, from design options to where they live in the community. The KB Home team works hand in hand with homeowners every step of the way, so they have a real partner in the process.

Every KB home is designed to be ENERGY STAR® certified thanks to the quality construction techniques and materials utilized that ultimately deliver significant savings on utility bills compared to used homes. Additionally, all new KB homes are designed to deliver an enhanced indoor environment and include high performance ventilation systems, low- or zero-VOC products and other features guided by the Environmental Protection Agency’s (EPA) Indoor airPLUS standards.

The Sage, Vesper and Crimson sales offices and model homes are open for walk-in visits and private in-person tours by appointment. Homebuyers also have the flexibility to arrange a live video tour with a sales counselor. Pricing begins from low $1M, low $800,000s and mid $700,000s, respectively.

For more information on KB Home, call 888-KB-HOMES or visit kbhome.com.

About KB Home

KB Home is one of the largest and most recognized homebuilders in the United States and has built over 655,000 quality homes in our more than 65-year history. Today, KB Home operates in 47 markets from coast to coast. What sets KB Home apart is the exceptional personalization we offer our homebuyers — from those buying their first home to experienced buyers — allowing them to make their home uniquely their own, at a price that fits their budget. As the leader in energy-efficient homebuilding, KB Home was the first builder to make every home it builds ENERGY STAR® certified, a standard of energy performance achieved by fewer than 10% of new homes in America and has built more ENERGY STAR certified homes than any other builder. An energy-efficient KB home helps lower the cost of ownership and is designed to be healthier, more comfortable, and better for the environment than new homes without certification. We build strong, personal relationships with our customers, so they have a real partner in the homebuying process. As a result, we have the distinction of being the #1 customer-ranked national homebuilder in third-party buyer satisfaction surveys. Learn more about how we build homes built on relationships by visiting kbhome.com.

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