Thursday, October 4, 2007

50% cancellation rate!

Last week, KB Home (one of the largest builders in the US) reported earnings for the last quarter. Their cancellation rate worsened from 34% (in the prior quarter) to 50%! That's crazy!!!

Read more about KB's announcement here.

Also, Jon Markman (MSN Money) just wrote an interesting article titled, "For home builders, the worst is to come".

1 comment:

Darin said...

That's what happens when people buy something they can't afford and hope to make a few quick buck on something (a house) that is nothing more than a place to live.