If you were looking for good news out of the residential construction world, today is the day to go out and play golf. Quarterly results for some of the major homebuilders were released today and they were down right ugly. Take a look:
Beazer: Net loss for the three months ended March 31 was $43.1 million, [...]
Bank of America is purchasing Seattle Mortgage Co. from Seattle Financial Group for an undisclosed amount. Seattle Mortgage had been doing business as Reverse Mortgage of America since 1995 having written over 40,000 reverse mortgages and over 4 billion in outstanding balances.
Is this another example of the big boys moving in during a slowdown, [...]
Michigan has been seeing a tough time of it lately. The slowdown in the automotive industry and the free fall of housing prices in metropolitan Detroit is now taking it’s toll on state tax revenue. Of course you can trust the government officials to take the low road and automatically tell the populace that they [...]