KB Home expects 2008 to be as tough as last year KB Home, the fifth largest US homebuilder, has made quarterly loss of $773m (£392m) as the American housing market slowdown continues to bite.Reporting for the last three months of 2007, KB Home said it had written off $305.5m because of the reduced value of its housing and land stocks. The Los Angeles-based firm said its sales fell 22% in the quarter compared with the same time last year. KB Home, which saw revenues fall 31%, said it also expected a tough 2008. Record defaults The company's fourth quarter...