Thursday, September 28, 2006

Bloomberg - "Homebuilders Offer Garages, Sod to Lure Buyers Amid U.S. Slump " (9-27-06)

" U.S. homebuilders including Pulte Homes Inc., Lennar Corp. and D.R. Horton Inc. are cutting prices and throwing in a lot more than the kitchen sink to stem a record build-up of unsold houses -- even as their profits and shares tumble. The median price of a new home this year may fall for the first time in 15 years as sales drop the most since 1990, says Doug Duncan, chief economist for the Mortgage Bankers Association in Washington."

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