Thursday, March 03, 2005

Home Builder Scandal Breaks

The fraud surrounding the housing bubble has forced its way into the headlines. "DENVER (AP) -- Sixteen homebuilders across the nation guaranteed business to a large title insurance company in exchange for kickbacks, a Colorado insurance regulator said in an interview."

The mug line: "large builders on the list include Beazer Homes USA Inc., MDC Holdings Inc., Engle Homes, John Laing Homes, Pulte Homes Inc. and Ryland Group Inc.

The other companies disclosed to state regulators are: Artistic Homes of Albuquerque, N.M.; Citation Homes, Irvine, Calif.; Fulton Homes, Tempe, Ariz.; Maracay Homes, Scottsdale, Ariz.; Meritage Homes, Dallas; Orleans Homebuilders, Bensalem, Pa.; Warmington Homes, Costa Mesa, Calif.; William Lyon Homes, Newport Beach, Calif".

2 Comments:

At 12:21 AM, Blogger mspenelope said...

Hi Ben,

Another common sense article...incase you missed it.....


http://www.economist.com/finance/displayStory.cfm?story_id=3722894

 
At 12:01 PM, Blogger Ben Jones said...

Wow, that is excellent. "Landlords are nowhere near covering their true costs, but many still hope to make their profit from capital gains. That sounds ominously similar to the days of the dotcom bubble, when it was argued that the link between share prices and profits no longer mattered."

We should watch the markets that break first, like Australia & UK, to see what may be in store for the US..Thx..Ben

 

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