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Industry news round-up for November 28, 2011

November 28th, 2011 by Berit Griffin

Two Big Builder Failures Show We’re Not Yet Out of the Woods
“Just in the last few days, in a reminder of how treacherous home building remains, two of the biggest companies in the business have gone under. First, Minnesota’s Rottlund Homes, during its heyday the 40th largest builder in the country, announced that it would liquidate. Then California’s William Lyon Homes, a public company at one time, said it would reorganize under bankruptcy.”

I Still Have Hope
QR Market Memo
“Fortunately for me, I have found a way through this. I guess tough times can either make or break anybody. So far, I am determined to do whatever I have to do. The real strength that I needed throughout these years of business survival had to come from within. Even now as economic news worsens and we face a very long journey before us, inner motivation is an absolute. Without it we have no hope. There it is. No matter what else drops away, I still have hope. As long as hope remains I can keep going.”

Stronger Lure for Prospective Home Buyers
Wall Street Journal
“Home prices and mortgage rates have fallen so far that the monthly cost of owning a home is more affordable than at any point in the past 15 years and is less expensive than renting in a growing number of cities.”

Giving thanks is not just for Thanksgiving!
Housing Zone
“That fact that you are still in the game is really amazing. We conduct business completely different than what we did in 2005, we take nothing for granted, and we have learned new skills and attitudes that will be the platform for our future success when our market returns to 2001 levels.”

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