by Calculated Risk on 10/22/2008 09:03:00 PM

From Reuters: Pulte loss narrows, says housing market worsened

Pulte said it would not forecast fourth-quarter results because of poor visibility in its industry and the wider economy.

"The homebuilding operating environment significantly worsened during the third quarter of 2008," Chief Executive Richard Dugas said in a statement. "Uncertainty and volatility in the capital markets, higher unemployment, and a weaker economy provided further downward pressure."
emphasis added

If Q3 was "significantly worse", how will they describe Q4? (with higher mortgage rates and the impact from the credit crisis).