U.S. home builder woes reach into other industries
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The anemic U.S. housing market has  hurt various industries from makers of air conditioners to  earth movers, with several manufacturers reporting their top  lines have been bruised by the slowdown.
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The number of new US homes built in May fell by more than analysts forecast, official data shows.
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There are signs that some high-end real estate developers are being hit by a slowdown.
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Declining land and home values prompted home builder Hovnanian Enterprises Inc  to report results far worse than Wall Street expectations and one the important spring selling season may offer little relief.
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Home builders slammed on the brakes in August as starts on new homes sank to their lowest level in more than three years, and a drop in permits signaled more weakness ahead for the real estate market.
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Ground-breaking on new U.S. homes last  month fell to the slowest pace since 1991 and fewer building  permits were issued than any time since 1993, according to  government data released Thursday that points to a deepening  housing crisis and heightened risk of recession.
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The drop-off is likely to hurt businesses that serve the housing industry, which economists donât expect to bottom out until the middle of the year.
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WASHINGTON -- Growth in the manufacturing sector slowed in August while construction spending dropped sharply in July, indicating turmoil in the housing and financial markets could be spilling over to the broader economy.
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The latest jobs report, raises questions about how long the economic firewall that has safeguarded most industries from the housing crisis can stay in place.
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The home builder reported that it swung to a loss in the first quarter, continuing a trend of bad news in the housing market.
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Companies in sectors without obvious connections to housing are starting to feel the sting from subprime mortgages.
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WASHINGTON -- Sales of new homes plunged by a record amount in 2007 while prices posted the weakest showing in 16 years, demonstrating the troubles builders are facing with a huge backlog of unsold homes.
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Corporate housing can be a boon for developers during a buildingâs transition from rental to condominium or for condominium investors facing a sluggish market.
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A real estate group issued a pessimistic outlook and two major builders said their profits will not meet expectations.
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Homebuilder sentiment slid in July to its lowest since January 1991 as fallout from the housing slump and subprime mortgage crisis caused a glut of new homes, the National Association of Home Builders said on Tuesday.
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SHANGHAI -- Sun Xiaoqing, owner of the Fenghua Hengsheng Knitting Factory, isn't quite sure what deadbeat mortgage holders in the United States have to do with his exporting business, but he knows it's bad.
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The collapse of the fabled Levitt & Sons, the first big home builder to fail in the current slump, illustrates how the real estate turmoil is spreading far beyond subprime borrowers.