Wednesday, Feb 21, 2007
A sign of things to come
Guardian: George Wimpey axes jobs in US
Builders. US. In the s**t.
Posted by inbreda @ 02:04 PM (182 views) Add Comment
3 Comments
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1. Wannabeemigre said...
Reading this article, how can conditions improve in 2008 and have distressed sellers emerge at the same time?
2. tyrellcorporation said...
'However, given its low order books - down by 67% - it expects US volumes and margins this year to be "significantly" below last year. The group hopes for a stronger year in 2008.'
67%!!! - is that a crash?
'Meanwhile, the UK housing market has remained stable, Wimpey said.'
...for now, but the stink will surely waft over from the Eastern seaboard.
3. harold said...
67% sure is a crash in orders, soon to feed over into prices. Inventories are pilling up over there.