Building and construction materials group Boral Ltd (ASX:BLD) remains bullish on the US market.

Boral chief executive Mark Selway told The Australian Financial Review he remains optimistic on US house prices despite the company downgrading its US housing starts forecasts to a "reasonably conservative" 640,000 starts for the second half of fiscal 2011.

While Boral is expected to lose around $100 million in the US market this year, Mr Selway said he believes now is an opportune time to expand in the US.

"I think it's a great time to buy US assets, you've got the dollar at par, it's the bottom end of the cycle," he said.

According to him, the company believes “quite clearly” that the US market will come back.

"If it doesn't, I think the whole world's going to be in a little bit of trouble, not just Boral," he said.

The Australian Financial Review reports Boral is currently sitting on a $1 billion war chest which it could spend on acquisitions without having to raise capital.