Skip to: Content
Skip to: Site Navigation
Skip to: Search

December 2, 2008 10:16:20 PM CST


residential building

residential building news stories

2 Stories

Mortgage Meltdown Hits
Small Builders

Wave of bankruptcies could in turn weaken regional banks

(Newser) - The housing market collapse that's sending homeowners into foreclosure is starting to hit small- and medium-size builders left with developments they're unable to sell, the Wall Street Journal reports. Buyers are canceling contracts and builders are missing mortgage payments on often highly leveraged projects. Small regional banks, in turn, could be the next victims. More »

More about:  subprime crisis housing market foreclosure mortgage bankruptcy banking construction small businesses homebuilders residential building

Construction Spending Tumbles

Spending falls at fastest rate since 1994

(Newser) - Construction spending fell at its fastest rate in 14 years in January, the Commerce Department announced today, shattering expectations with a 1.7% drop. Analysts had expected just a 0.7% decline, the Wall Street Journal reports. Residential spending was the big drag, falling 2.9%, but non-residential spending was also down and could keep heading in that direction as banks raise commercial loan standards. More »

More about:  recession housing manufacturing construction Commerce Department manufacturing index residential building

2 Stories

Today's Most Popular

Loading...

Premium Articles from HighBeam

Find more articles like this

What is Newser?

2008 Codie Finalist

Face it: there's too much news. At Newser a team of editors and writers culls the most important stories from hundreds of U.S. and international sources and reduces them to a headline, picture, and two paragraphs. It's the Newser guarantee: we can take any report or column or video and pack what you need to know into 120 words or less. Newser's short-form aggregation, visual format, and unique information tools help you get more of the kind of news you want, in a quicker and more entertaining way. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »