My only somewhat flippant philosophy about homebuilders is that they will build until they run out of money. I am looking forward to a few running out of money so the supply of homes can come back into balance.
Meritage Homes swings to 4Q loss, sees ‘challenging’ 2008
The Scottsdale, Ariz.-based builder of single-family attached and detached homes said 2007 has been the ‘most difficult’ year it’s experienced in homebuilding in more than 25 years and it currently expects that 2008 ‘will also be challenging.’
‘We have yet to see signs of stabilization in home prices, which we believe is necessary for buyers to regain confidence that their home purchase will retain its value,’ the company said in a statement.