“In early August, Weyerhaeuser reported second-quarter net earnings plunged more than 89% to $32 million primarily because of the slumping U.S. housing market’s impact on wood product sales.”
This is probably not really news to anyone, but I didn’t expect the decline to be so great, so quickly.
It does help illustrate the beginning of the domino effect. Just as mortgage co. are letting people go, so will lumber, and many others, now that the boom is over.
My guess is that many of these jobless people will not be able to find adequate work. How long can you make mortgage payments with out a decent job? This will only add to the record number of homes for sale.
If you go visit Carriage Run or Arabella you’ll find they LOADED there “starter family” homes up to the 820’s! Starting families can’t buy those houses without liar loans…so thus they aren’t selling. Note to Pardee: Stop reduce your prices and stop overloading ALL your houses with every option in the book.
If you go visit Carriage Run or Arabella you’ll find they LOADED thier “starter family” homes up to the 820’s! Starting families can’t buy those houses without liar loans…so thus they aren’t selling. Note to Pardee: Stop reduce your prices and stop overloading ALL your houses with every option in the book.
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