Sunday, June 15, 2008

Noone can save housebuilders from themselves!

The roof caves in on Barratt CEO Mark Clare

" using big incentives to drum up custom. It is offering homebuyers a quarter of the value of a new home interest-free for 10 years" why not to cut prices? simple: “This may come out the other side as quickly as we went in. By next spring the mortgage banks will be lending again.”

Posted by confused76 @ 08:59 AM (867 views)
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2 thoughts on “Noone can save housebuilders from themselves!

  • http://www.guardian.co.uk/business/2008/jun/15/barrattdevelopmentsbusiness.construction

    “But analysts see Barratt as the most vulnerable because it bought its smaller rival, Wilson Bowden, for £2.2bn at the peak of the housing market – just five months before the US sub-prime crisis sparked the most rapid withdrawal of credit in 60 years.”

    the acquisition will be remembered as the pinnacle of the house stupid greed. same time John Hunt was selling Proxtons to the suave brainless Italian managing partner of BC Partners. And BofA agreed to finance the deal. A combination of superbrains. Icing on the cake all the losers that Barratt and Co. have “enabled” to become “property investors” or BTLetters.
    MAUWA HA AHHAHHA HA HAHAHAHAH HAAHHAHH

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  • “This cycle has proved yet again that the best leaders of housebuilders are entrepreneurial founders who can predict trends. That is why the best ones, like Steve Morgan of Redrow and Alan Cherry of Countryside Properties, sold out in the past few years.”

    As did David Wilson of Wilson Homes.

    David Wilson has now set up a new company called Davidsons (it is run by his two sons). Their offices are very near to the old company’s in Leicester.
    They have no debt and £190m in the bank along with all the savvy.

    Watch this space!

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