Ryland Shakes Up Senior Management (Central Valley Business Times) A week after The Ryland Group announced it expected to lose 50 cents to 60 cents a share in the first quarter, two top executives of the home builder have left the building. No reasons were given for the departures.
D.R. Horton 2Q Orders Fall 37 Percent (Associated Press/Builder Online) Horton, the nation's largest home builder, says that its sales orders in the most recent quarter fell 37 percent.
Ex-Builder Admits to Bilking Clients ( (Orlando Sentinel) John Barrington pleads guilty in federal court to conspiracy to commit fraud, money laundering, and tax evasion. He faces 20 years in prison.
Mortgage Bondholders May Bear Subprime Loan Risk (Bloomberg.com) The top Democrat and Republican on the House Financial Services Committee say investors in mortgage bonds should be liable for deceptive loans made by banks.
Antelope Valley struggles with memories of '90s housing crash (Los Angeles Times) With foreclosures on the upswing and a fresh crop of "For Sale" signs sprouting up in front yards, Antelope Valley, Calif., braces for a return trip to a decade they'd rather forget -- the economic downturn that wracked California in the early 1990s.
Housing Slump Is Putting Pinch on State Tax Revenues ( (Boston.com/New York Times News Service) State tax revenues around the country are growing far more slowly this year, and in some cases falling below projections, a result of the housing market slowdown that has curbed voracious spending on real estate, building materials, furniture, and other items.
Mortgage mess spreads to Alt-A segment (MSNBC.com) Subprime mortgage turmoil now ensnaring companies that lend to people with good credit.
Lawmakers Propose Aid for Subprime Borrowers (Yahoo News/Reuters) The federal government should offer troubled borrowers hundreds of millions of dollars to bail them out of subprime mortgage loans, several leading Democratic lawmakers say.
Mortgage Rates Go Up Again (Yahoo News/Associated Press) Mortgage rates rose for a second straight week with 30-year fixed mortgages hitting the highest level since late February.
Special Report: The Mortgage Mess (MSNBC.com)
Special Report: Subprime Mortgage Crisis (Bloomberg.com)
Video: The Real Estate Roller Coaster (Google Video/Speculative Bubble.com) U.S. home prices adjusted for inflation plotted as a rollercoaster.
Steve Zurier's Tech Blog (BUILDER Online) BUILDER magazine's Senior Editor for Technology asks, "Aren't there some builders who can't sleep at night who want to ramble on about technology?"
Boyce's Blog: Subprime Fallout (BUILDER Online) Boyce Thompson, the Editorial Director of BUILDER, predicts that the home building industry will feel the effects of the fallout from the subprime and Alt-A mortgage market for years.
Take the BUILDER Poll ( (BUILDER Online) Have you "gone green" in your building processes? If so, in which ways?
Check out the current issue of BUILDER (BUILDER Online)
Robb Crocker is the Senior Editor for BUILDER Online. Please e-mail any comments, questions, suggestions, and news tips to [email protected].
Learn more about markets featured in this article: Los Angeles, CA.
