1 EXHIBIT 22 KAUFMAN AND BROAD HOME CORPORATION AND CONSOLIDATED SUBSIDIARIES SUBSIDIARIES OF THE COMPANY The following subsidiaries of the Company were included in the November 30, 1998 consolidated financial statements: PERCENTAGE OF VOTING SECURITIES OWNED BY THE COMPANY OR A SUBSIDIARY OF THE COMPANY NAME OF COMPANY ----------------------- Arizona Corporations BPC, Inc. ........................................... 100 Brentwood Hills, Inc. ............................... 100 CRB Properties, Inc. ................................ 100 Carefree Desert Hills Development Co., Inc. ......... 100 EMC, Inc. ........................................... 100 Estes Homebuilding Co. .............................. 100 Fairway Groves, Inc. ................................ 100 Kaufman and Broad of Arizona, Inc. .................. 100 Kaufman and Broad Home Sales of Arizona, Inc. ....... 100 Midvale Estates, Inc. ............................... 100 Mission Hills, Inc. ................................. 100 Riverbend Properties, Inc. .......................... 100 T.N.C.C., Inc. ...................................... 100 Westpoint Properties, Inc. .......................... 100 California Corporations Affordable Multi-Family, Inc. ....................... 100 Cable Associates, Inc. .............................. 100 Custom Decor, Inc. .................................. 100 First Northern Builders Servicing, Inc. ............. 100 Fullerton Affordable Housing, Inc. .................. 100 Gateway Town Center Investors, Inc. ................. 100 KBASW Mortgage Acceptance Corporation................ 100 KBI/Mortgage Acceptance Corporation.................. 100 KBMH Property Management, Inc........................ 100 KBMH Capital, Inc.................................... 100 KBRAC IV Mortgage Acceptance Corporation............. 100 K&B Multi-Housing Advisors, Inc. .................... 100 KBMH Construction, Inc. ............................. 100 KBMH Construction of Nevada, Inc. ................... 100 Kaufman and Broad Architecture, Inc.................. 100 Kaufman and Broad -- Central Valley, Inc. ........... 100 Kaufman and Broad Coastal, Inc. ..................... 100 Kaufman and Broad Communities, Inc. ................. 100 Kaufman and Broad Development Group.................. 100 Kaufman and Broad Embarcadero, Inc. ................. 100 Kaufman and Broad Holdings, Inc. .................... 100 Kaufman and Broad Home Sales, Inc. .................. 100 2 PERCENTAGE OF VOTING SECURITIES OWNED BY THE COMPANY OR A SUBSIDIARY OF THE COMPANY NAME OF COMPANY ----------------------- Kaufman and Broad Insurance Agency, Inc. ............ 100 Kaufman and Broad International, Inc. ............... 100 Kaufman and Broad Land Company....................... 100 Kaufman and Broad Land Development Venture, Inc. .... 100 Kaufman and Broad -- Monterey Bay, Inc............... 100 Kaufman and Broad -- Moreno/Perris Valleys, Inc. .... 100 Kaufman and Broad Multi-Family, Inc. ................ 100 Kaufman and Broad Multi-Housing Group, Inc........... 100 Kaufman and Broad of Northern California, Inc. ...... 100 Kaufman and Broad North Stockton, Inc. .............. 100 Kaufman and Broad Patterson, Inc. ................... 100 Kaufman and Broad Properties......................... 100 Kaufman and Broad of Sacramento, Inc. ............... 100 Kaufman and Broad of San Diego, Inc. ................ 100 Kaufman and Broad -- South Bay, Inc. ................ 100 Kaufman and Broad of Southern California, Inc. ...... 100 Kaufman and Broad of Utah, Inc....................... 100 KB Holdings One, Inc. ............................... 100 Kent Land Company.................................... 100 Kingsbay Escrow Company.............................. 100 Multi-Housing G.P. VI, Inc. ......................... 100 Multi-Housing G.P. VIII, Inc. ....................... 100 Multi-Housing G.P. X, Inc. .......................... 100 Multi-Housing G.P. XII............................... 100 Multi-Housing G.P. XIV............................... 100 Multi-Housing Investments, Inc. ..................... 100 Simi Affordable Housing, Inc. ....................... 100 Colorado Corporation Kaufman and Broad of Colorado, Inc. ................. 100 Delaware Corporations General Homes Corporation............................ 50.25 General Homes Development LLC........................ 50.25 International Mortgage Acceptance Corporation........ 100 Kaufman and Broad Development Company................ 100 Kaufman and Broad Limited............................ 100 KBHC Financing I..................................... 3 Illinois Corporations Kaufman and Broad of Illinois, Inc. ................. 100 Kaufman and Broad Mortgage Company................... 100 Massachusetts Corporation Kaufman and Broad Homes, Inc. ....................... 100 Michigan Corporation Keywick, Inc. ....................................... 100 3 PERCENTAGE OF VOTING SECURITIES OWNED BY THE COMPANY OR A SUBSIDIARY NAME OF COMPANY OF THE COMPANY - --------------- ----------------------- Minnesota Corporation Kaufman and Broad Custom Homes, Inc. ................ 100 Nevada Corporation Kaufman and Broad of Nevada, Inc. ................... 100 KB Spring Mountain................................... 100 New Mexico Corporations Kaufman and Broad of New Mexico, Inc. ............... 100 New York Corporation Kaufman and Broad Homes of Long Island, Inc. ........ 100 Texas Corporations and Partnerships Hallmark Residential Group, Inc...................... 100 KBSA, Inc. .......................................... 100 Rayco Land Development, Inc.......................... 100 San Antonio Title Co. ............................... 100 Satex Properties, Inc. .............................. 100 Kaufman and Broad Insurance Agency of Texas Holdings, Inc................................................ 100 Kaufman and Broad of Texas, Ltd...................... 100 Kaufman and Development of Texas, Ltd................ 100 Kaufman and Broad Lone Star, LP...................... 50.75 Canadian Corporations Margreen Investments, Inc. .......................... 100 3238865 Canada Inc................................... 100 French Corporations Kaufman and Broad Developpement S.A. ................ 99.4 Kaufman and Broad France S.A......................... 100 Kaufman and Broad Promotion Maisons Individuelles S.A................................................ 99.94 Kaufman and Broad Renovation S.A..................... 99.4 LMP Chancy S.A. ..................................... 100 S.A. Millet.......................................... 100 SMCI Developpement................................... 100 Mexican Corporations Kaufman y Broad de Mexico............................ 100 Kaufman y Broad Asesoria Administrativa.............. 100 Operadora Los Robles................................. 100 Desarrollos Los Robles............................... 100