Housing Outlook Shows Little Hope
Springtime usually means good times in the housing industry, but this year it's threatening to become a grim season of reckoning.
Signs of a sobering slowdown emerged throughout March, ranging from gloomy forecasts among homebuilders to a growing number of high-risk borrowers struggling to make payments on exotic mortgages they probably couldn't afford in the first place.
The latest flare came this week as Lennar Corp., one of the nation's largest homebuilders, reported a 73 percent drop in its first-quarter profit and warned that its results for the remainder of the year won't live up to previous expectations.
Signs of a sobering slowdown emerged throughout March, ranging from gloomy forecasts among homebuilders to a growing number of high-risk borrowers struggling to make payments on exotic mortgages they probably couldn't afford in the first place.
The latest flare came this week as Lennar Corp., one of the nation's largest homebuilders, reported a 73 percent drop in its first-quarter profit and warned that its results for the remainder of the year won't live up to previous expectations.
Labels: Housing, Housing Market, Housing Sector
posted by Stock Administrator @ 4:12 PM
0 Comments:
Post a Comment
<< Home