The markets the reaction was merciless. When Vistry, one of Britain’s biggest housebuilders, issued its second profit warning in a month on November 8, its shares plunged again. The company’s market capitalization has fallen by around £2.4 billion ($3.1 billion), or about half its value, from its peak in September. Vistry, formerly known as Bovis Homes, blames the bulk of unexpected cost overruns worth £165m on poor management and culture at a single legacy division. But its difficulties have cast a shadow not only on the construction industry star, but also on the new Labor government’s housebuilding ambitions.