Homebuilders Add New Wing to Housing Crisis

" The outlook for those builders that remain -- builders that are bleeding cash while pleading with creditors to extend loan terms and waive busted covenants -- is bleak. Last week, the National Association of Homebuilders/Wells Fargo Builder Sentiment Survey ticked down after rising far more than expected the month before. Higher interest rates are mostly to blame, as the specter of bigger monthly payments is quelling optimism that the housing market is on the mend. "