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Construction in the U.S. Declines Most Since January

This Link is located in the Public Channel Housing Bubble and Bear Links.
Posted by ian 2 years 199 days ago (bloomberg.com). Views: 163
Tags: housing bubble

Related Tags: credit crisis gold wall street peter schiff economics inflation banks

Economists had forecast total construction spending would stay unchanged, which was way off.

Homebuilders are scaling back to try to trim the glut of unsold residential properties. The downturn may steepen as lenders make it tougher and more expensive to get financing following the sell-off in credit markets in August.

Homebuilding will likely continue to deteriorate, economists said. Toll Brothers Inc., the largest U.S. luxury homebuilder, said Aug. 22 that its third-quarter profit fell 85 percent as the housing slump cut sales, increased cancellations and forced it to write down property.

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Housing Bubble and Bear Links (1,486 Links)

Created by ian 2 years 346 days ago in Finance. Views: 12,633. Link Views: 418,182
Tags: housing bubble investing real estate subprime mortgage finance economics
Related Tags: wall street stocks business video politics infesting economy financial

This channel was created on April 10, 2007, during the peak of the housing mania, to warn investors of the coming collapse in home prices. For quite some time we have warned investors to get out of U.S. stocks. This channel represents the best of the [More...]

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