Wednesday, May 21, 2008
Oh pwned
Bloomberg: UK Homebuilders to Cut Tens of Thousands of Jobs
UK homebuilders will cut tens of thousands of jobs as the £19 billion-pound industry grapples with the worst housing slump in more than a decade, according to the chairman of the Home Builders Federation.
"There isn't a builder in the land who isn't considering overheads and job losses,'' Stewart Baseley said in an interview yesterday. Job losses "will be in the tens of thousands,'' he said. "I've never seen a downturn escalate as quickly as this.''
Posted by little professor @ 05:57 PM (439 views) Add Comment
16 Comments
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1. paul said...
"There isn't a builder in the land who isn't considering overheads and job losses"
Oh that's a terrible prospect to have to consider.
But ummm, why not just reduce your prices instead?
2. confused76 said...
"But ummm, why not just reduce your prices instead?"
That is the next step
3. geed said...
pwned??
4. Mytimeisnigh said...
When they were building houses three years ago and they cost maybe 20 percent less, they were still making money beyond my wildest dreams, so what's the problem. They need to just made the asking prices sensible. Or the government could employ them to rebuild the grotty post war council estates, so there's finally decent social housing again, in this so called civilised country.
5. waiting patiently said...
I don't think that it is simple as reducing sales prices. I suspect that the builders have overpaid for the land and consequently they are stuffed. We all agree that house prices are too high but have you seen the price of building land. This has been selling for silly money for some time.
6. Susanbell84 said...
Took me time to read all the comments, but I enjoyed the article. Very helpful article! Makes total sense. It's always nice when you can not only be informed, but also entertained! I'm sure you had fun writing this article.
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