Index: modules/homebox/homebox.js
===================================================================
@@ -79,11 +79,35 @@
  * Set all column heights equal
  */
 Drupal.homebox.equalizeColumnsHeights = function () {
-  var maxHeight = 0;
+  var maxHeight = Array();
+  maxHeight[0] = 0;
+  var boxWidth = $('#homebox').width();		// the width of the entire homebox area
+  var curWidth = 0;
+  var curRow = 0;
+  var thisWidth = 0;
+  var thisRow = 0;
+  // Get the max column heights per row
   Drupal.homebox.$columns.each(function () {
+    if (curWidth >= boxWidth) {		// new row
+        curRow += 1;
+        curWidth = 0;
+        maxHeight[curRow] = 0;
+    }
+    curWidth += $(this).parent('.homebox-column-wrapper').width();
     $(this).height('auto');
-    maxHeight = Math.max($(this).height(), maxHeight);
-  }).height(maxHeight);
+    maxHeight[curRow] = Math.max($(this).height(), maxHeight[curRow]);
+  });
+
+  // Set the column heights
+  Drupal.homebox.$columns.each(function () {
+    if (thisWidth >= boxWidth) {		// new row
+      thisRow += 1;
+      thisWidth = 0;
+    }
+    thisWidth += $(this).parent('.homebox-column-wrapper').width();
+    $(this).height(maxHeight[thisRow]);
+  });
+
 };
 
 Drupal.homebox.maximizeBox = function (icon) {