It's Starting

[kurt]

Neumann Homes, one of Chicago's largest home builders, filed Chapter 11 today. They built > than a couple thousand houses every year.

[hausdok]

Yeah, it's been getting grim for a while.

Here's a sampling of some headlines. These are typical of what I've been seeing for the past year and they just get worse and worse:

From Inman News

Foxtons listings go to highest bidders - Bankruptcy judge OKs sale of listings contracts.

Appraisers accused of inflating home values - NY attorney general says First American caved to WaMu's prressures.

Mortage rates hit lowest levels since May - Despite latest Fed cut, all eyes on Freiday's labor report

Blood bath continues for real estate stocks - Inman Index: IndyMac, Countrywide, First American suffer most

RealtyTrac reports Q3 foreclosures up nearly 34%

From NRCA SmartTrac

Small business owneers less confident in October

Housing slump hits companies tied to industry

From Builder Business Update

First Home Builders Slashes 200 Jobs

More layoffs from Levitt & sons

Standard Pacific posts larger than expected loss

Meritage Homes Focuses on Balance sheet - with home orders falling 23 percent, slosings sliding 28 percent and a 41 percent cancellation rate...

Ryland takes $54.7M 3Q loss

Countrywide Financial reports their first quarterly loss in 25 years

Neumann Homes to File for Bankruptcy Protection

Levitt and Sons Receives Default Notices

NVR Quarterly Profit Drops

Countrywide's Mozilo Under SEC Investigation

Housing Starts, Permits Continue to Plunge

Builder Confidence Lowest In 22 Years

When Will It End?

Online Exclusive - Gloomy Forecast: Regional Breakdown

Lenders In Trouble

Rate Cut Unlikely to Rescue Housing

Horton's 4Q Sales Slide 48 percent

The Future Appears Grim for Levitt and Sons

Ashton Woods Hit Hard By $10.6 Million Quarterly Loss

Nevada is Still on Top of the U.S. Foreclosure List

Foreclosed Homes Flood Auction

Home Builders' Foundations Shift With Shaky Market

Dallas-Fort Worth Pre-Owned Home Sales Plunge 19 Percent

Utah Housing: Braking, Not Broke

Mortgage Slump Hits Home Decor Industry

California Home Price Predicted to Fall for First Time in 10 Years

[Les]

Michigan has had this economy for abt 2yrs. It is more perilous than during Carter years of 22%.

[Bill Kibbel]

http://blogs.indystar.com/varvelblog/ar ... y_job.html