lowtechie1

KB Homes: Terrible 4Q Earnings Blamed On Economy

Analysts in the industry say that a huge number of "name" builders will go to zero this year, 2009. The smart ones will fold tent now, they say, and sit it out for a year or two. They are telling us that CA-NV-AZ, for example, have another 20-30% to fall in resale properties, so that certainly doesn't bode well for new home sales, either. The unemployed, grossly indebted, and stock loss beaten back will not be buying even at 4% interest rates or less. New home building in most of the USA is toast. Of course, there are territorial exceptions, I'm sure, but I can't name one.