2008-12-03 — latimes.com
But just how bad is the situation for builders? By one measure, the Home Builder Implode-o-Meter lists 57 major builders that have suffered a significant "adverse change" since 2006, 45 that have had mini-implosions and 18 on an ailing/watch list. When the Times ran an article about the site in August, the tally was at 35 "major" implosions, 27 "tiny" ones and 15 builders on the watch list.
The Building Industry Coalition for Economic Recovery paints a picture with a broader brush, including small builders in its statistics on its website. It claims: During the first three quarters of 2008, a builder an hour of each business day has been going out of business. 1,400 builders went out of business in 2007.
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houston at 21:38 2008-12-04 said:
The implode meter shows 57 major builder bankruptcies and only 18 on the ailing list. I think these numbers are understated – there may be 57 known bankruptcies but there are many more builders in distress than just the few listed. These companies are hanging on by their finger nails and cannot see the bottom yet. If the FED wants to help the economy and they have bailout as their tool of choice, then they should get funds moving back into the builder/developers so that operations can be restored. The lack of financing has disrupted many of the companies who would otherwise be viable. Permalinkadd a comment | go to forum thread
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