Thursday, June 18, 2009

Homebuilder shares fall on foreclosure report

A glut of home supply and continuing downward pressure on prices could also make the coming months difficult for homebuilders, Urani said.

"It's kind of a reminder that, even though we're seeing these sales increases lately, there's still a big time foreclosure problem out there," he said. "I think that's snapping people back to reality a bit."

http://www.forbes.com/feeds/ap/2009/06/11/ap6534272.html