Not Good News to Homebuilders

This can't be a good deal to the beleaguered home builders.

"We expect housing industry conditions to continue to worsen through the
end of the year and into 2008," said Jeffrey Mezger, KB's president and
chief executive officer.

"Our third-quarter results reflect the seriously challenging market
conditions that prevail for homebuilders across most of the nation," he said.

People keep trying to pick the bottom on these guys but they keep disappointing quarter after quarter. At least they figure that mid-2008 will be when things will start to finally turn around. Unless there is a recession during that time of course.