Just try to explain this to somebody outside the housing industry. To my simplistic manner of thinking, it's a pretty sad commentary on how upside down things are.
Today's Housing Bubble Post - Homebuilders Forced To Build MORE Inventory
This one takes some explaining. The big homebuilders borrowed money and bought up a lot of land. Now they are in trouble, running out of cash to run their businesses and pay down the debt - and the only way they can hope to surive is to build MORE houses to sell at a steep discount, because this brings in at least SOME cash. Of course, the effect on [...]
Tags: Housing Industry, Home Builders
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