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Homebuilders downgraded to "junk"

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Homebuilders downgraded to "junk"

Old 10-11-2007, 09:02 AM
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Default Homebuilders downgraded to "junk"

A few of the major homebuilders were downgraded to junk today. I for one hate to see it, but it is warranted. Maybe in a few more years the "art" of building a "quality" home will return to the true professionals who built them one at a time for someone who had the money. Maybe the days of "throw em up" homes are over.
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Old 10-11-2007, 09:03 AM
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Default RE: Homebuilders downgraded to "junk"

Bugbuster - 10/11/2007 12:02 PM

A few of the major homebuilders were downgraded to junk today. I for one hate to see it, but it is warranted. Maybe in a few more years the "art" of building a "quality" home will return to the true professionals who built them one at a time for someone who had the money. Maybe the days of "throw em up" homes are over.
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Old 10-11-2007, 09:10 AM
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Default RE: Homebuilders downgraded to "junk"

That would be nice.Being in the furniture business,I am in so many homes every year and I can't believe the crap that some of these guys put up.
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Old 10-11-2007, 09:16 AM
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Default RE: Homebuilders downgraded to "junk"

Bugbuster - 10/11/2007 9:02 AM

Maybe in a few more years the "art" of building a "quality" home will return to the true professionals who built them one at a time for someone who had the money.
Hey, there is an idea!
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Old 10-11-2007, 09:34 AM
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Default RE: Homebuilders downgraded to "junk"

I knew the end was near about 2 years ago when I saw a newspaper article about local homeguyers camping out in front of the gate of a newly announced subdivision for several days so they could be the first to get their offers in for unbuilt homes.

What did they think they were going to get?
What do you suppose they actually got?
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Old 10-11-2007, 09:39 AM
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Default Re: Homebuilders downgraded to "junk"

Easier said than done. Homeowners have gotten the idea that they shouldn't have to wait more than 3-4 months for their home to be built. If your sales agent can't promise the timeline, the next builder down the street will. I don't agree with doing things this way, but it's what the customers expect these days. A home built with all the subs in each others way on a rush schedule will always suffer in quality but someone will always tell them different.
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Old 10-11-2007, 09:48 AM
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Default Re: Homebuilders downgraded to "junk"

Cousin Eddie - 10/11/2007 12:39 PM
... A home built with all the subs in each others way on a rush schedule will always suffer in quality but someone will always tell them different.
My brother-in-law is a sub-contractor in Florida. He's told me a few stories where he was literally installing something from one side of a wall and another crew was pushing his work out of place trying to install something on the other side.
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Old 10-11-2007, 10:02 AM
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Default Re: Homebuilders downgraded to "junk"

I've never had any issue with home builders/contractors in general. It's the big companies I hate. Building a bunchof ticky tacky house and they all look the same.

S. florida is almost entirely stucco walls and barrel tile roofs. So boring it gives you a headache.
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Old 10-11-2007, 11:53 AM
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Default Re: Homebuilders downgraded to "junk"

Cousin Eddie - 10/11/2007 9:39 AM

Easier said than done. Homeowners have gotten the idea that they shouldn't have to wait more than 3-4 months for their home to be built. If your sales agent can't promise the timeline, the next builder down the street will. I don't agree with doing things this way, but it's what the customers expect these days. A home built with all the subs in each others way on a rush schedule will always suffer in quality but someone will always tell them different.
I guess they get what they get though. It will dawn on them in about 2 years though, when their home starts to look like a warped up piece of crap losing value daily. I see them everywhere around here and atlanta that don't even have an eve and the vinyl siding is so thin you don't dare bump it because it will crack for 250k. Those home owners are really really in the dump with depreciation.
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Old 10-11-2007, 02:07 PM
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Default Re: Homebuilders downgraded to "junk"

Was talking to a guy a while back who said that the big monsters were slowing down and that smaller, better finished and detailed homes were picking up. This of course was about a year and a half ago.

By the end of the current slump my road should be in with lots for sale. I am wondering what people will be building.


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Old 10-11-2007, 03:12 PM
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Mist-Rest - 10/11/2007 2:07 PM

Was talking to a guy a while back who said that the big monsters were slowing down and that smaller, better finished and detailed homes were picking up. This of course was about a year and a half ago.

By the end of the current slump my road should be in with lots for sale. I am wondering what people will be building.

I'll bet cha it won't be big monsters. Some of those people's pocketbooks are gonna get slammed on this one. People will begin to look at a home's value by what's on the inside (their family) and not how much it cost.


Plus, by the time all this plays out, you will never be able to finance 100 percent of a homes value again. All the bridge lenders that have been so willing to cover what the first lender wouldn't are gonna really get their arse handed to them on this one. In a foreclosure, the bridge lender usually gets $0.
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Old 10-12-2007, 05:44 AM
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Default RE: Homebuilders downgraded to "junk"

Bug,
I heard yesterday that here in charleston, they were still doing 100% loans some how. I guess the new scheme has already been thought up?
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Old 10-12-2007, 05:58 AM
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Downgraded the homebuilders? That is a joke.

In 2003 TOL (Toll brothers) was at $20. It went to $60. It was upgraded galore at $40, $50, and $60 per share. They now downgrade them at $22? I don't need that kind of help. I can buy something at $60 and sell it at $20 all by myself without their help thank you very much!

I swear you can't make this stuff up. I bought TOL at $22 and $19. It closed $23.50ish I think yesterday in a bad tape. By the way they are all tripping over themselves upgrading APPL and GOOG. They like APPL at $160. I am predicting they will downgrade it and suggest you sell it at $85.
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Old 10-12-2007, 11:49 AM
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My guess is that this housing slump will level out around election time when the talking heads have election coverage to focus on. I honestly think that people would start buying again if the nightly news wasn't going on and on about how bad everything is. Think about it... Pricing is down, plenty to choose from, and rates are still decent.

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Old 10-12-2007, 11:57 AM
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Default RE: Homebuilders downgraded to "junk"

Bugbuster - 10/11/2007 9:02 AM

A few of the major homebuilders were downgraded to junk today. I for one hate to see it, but it is warranted. Maybe in a few more years the "art" of building a "quality" home will return to the true professionals who built them one at a time for someone who had the money. Maybe the days of "throw em up" homes are over.
Toll Brother's has been building crap homes for the last 20 years. I'd be scared to own one of their homes.
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Old 10-12-2007, 01:16 PM
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Default RE: Homebuilders downgraded to "junk"

FASTFJR - 10/12/2007 11:57 AM

Bugbuster - 10/11/2007 9:02 AM

A few of the major homebuilders were downgraded to junk today. I for one hate to see it, but it is warranted. Maybe in a few more years the "art" of building a "quality" home will return to the true professionals who built them one at a time for someone who had the money. Maybe the days of "throw em up" homes are over.
Toll Brother's has been building crap homes for the last 20 years. I'd be scared to own one of their homes.
I wouldn't be scared to own one, I'd just want it for half the asking price. Even though TOL says they build custom homes, it's not. Walk through them, and you'll see the big builder buying power in all aspects of finish. It may look top notch, but underneath it's custom "look" you see cheap, cheap, cheap. My idea of a custom build is to use the best materials than can be bought for the application and overbuild everything. When it comes to time, something can't be overbuilt. I bet TOL hammers their suppliers on pricing and get everything sort of Wal Marted, if you know what I mean. It may look the same as other materiels, it's just not.
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Old 10-12-2007, 01:34 PM
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Default Re: Homebuilders downgraded to "junk"

Bug,
Personally I hope that they are well built and appointed homes. Staying below 4000 sq ft wouldn't hurt my feeling. At 150-175 (plus lot) a foot that fits in well with what's around. This town (Carlisle) has some pretty big stuff. Up until 2 years ago, most of it was kinda bland for my taste. The newer stuff has some nice lines. Land values have always climbed in the past. Time will tell. I will say that I'm glad I'm not a builder.



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Old 10-13-2007, 04:15 AM
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Mist-Rest - 10/12/2007 1:34 PM

Bug,
Personally I hope that they are well built and appointed homes. Staying below 4000 sq ft wouldn't hurt my feeling. At 150-175 (plus lot) a foot that fits in well with what's around. This town (Carlisle) has some pretty big stuff. Up until 2 years ago, most of it was kinda bland for my taste. The newer stuff has some nice lines. Land values have always climbed in the past. Time will tell. I will say that I'm glad I'm not a builder.


Man, I bet if you took the president of TOL and asked him what a cantilevered bay window was, he couldn't tell you. Their not builders, they're talking corporate heads.
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Old 10-13-2007, 11:05 AM
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My prediction: the overall quality of homes will continue to tank, and homes will be getting smaller and less detailed. The reason is that not long from now the “new” Americans, i.e. those that crept over the border under the cover of night, will no longer fear their status of being “illegal” and when that happens, overnight, their numbers will reshape the ‘America’ they we know and love. The quality of life in America has been in a down-slide and will continue on that path, like it or not. It is unavoidable and there is nothing you, I, and anyone of can do to change that. Accept it and prepare for the new America, a borderless region that includes Mexico to the south, us in the middle, and Canada to the north.

I can’t believe how little media coverage there was of Vicente Fox's statement on Larry King this week. Fox said that he, Bush, and the PM of Canada agreed on this new planned zone including a merged currency. When that is in place there will be a homogenizing of the 3 countries. It is not possible to create this new “economic zone” with disparity. The international banking community is guess-timating as early as 2010, as late as 2018.

So, homes quality: tanking.
Curb appear: a thing of the past.
Your neighbors: non-English speaking
Considering the housing market/industry without including the migration from Mexico: an exercise in stupidity.

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Old 10-13-2007, 11:25 AM
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Eyeball, please tell me you were or are drunk or on drugs or something like that................please God, that can't be true!
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