jimsep

Housing Market Tracker - Homebuilder Land Selloff Accelerates

Judy, You are doing the best job of anyone in keeping abreast of the debacle in housing, including the fact that you are sticking to your position that a bottoming is nowhere near.

I watch with amusement as they are now racing to sell land, which is the only future the homebuilders have coming out of this. In essence, then they are selling off the family jewels to raise cash to continue building homes in existing developments, which defeats the purpose as they are maintaining the astronomic supply of unsold homes.

A way you could be even more useful would be to probe the so- called managements of these companies as to how much they are actually reducing building activity, how many less houses they are starting or completing, how many prople they are laying off etc. Not until this happens will we be able to even pretend to identify a bottom.

I don't see these questions being asked on trranscripts of conference calls.