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Tuesday, May 29, 2007

Home Builders: Bust may last to 2011

by Calculated Risk on 5/29/2007 10:35:00 AM

From Bloomberg: Home Construction Bust May Last Until 2011, U.S. Builders Say

New home construction in the U.S. may take until 2011 to return to last year's level, said David Seiders, chief economist for the National Association of Home Builders in Washington.
"We've fallen way below trend because we soared way above trend during boom times," Seiders said in an interview. "The upswing will be relatively slow, unlike earlier cycles."