Tuesday, Jun 26, 2007
USA Looks Depressed
FT: Lennar warns housing slump may deepen
Lennar, the second-largest US homebuilder, on Tuesday warned the market may deteriorate through the rest of the year despite cutting prices on homes by an average of 15 per cent in a bid to clear unsold inventory.
Posted by dobber @ 09:11 PM (160 views) Add Comment
1 Comment
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1. paul said...
Problem of course is that slashing prices to combat sinking prices only serves to deepen the fear.
Fear and greed in equal amounts, each side of the spike. The UK's will be a bad'un.