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Politics : Formerly About Advanced Micro Devices

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To: Road Walker who wrote (409175)	8/22/2008 12:12:09 PM
From: tejek	Read Replies (1) of 1575173

This is actually good news.....the less building the faster the overhang will be eaten up. Royce Builders halts construction due to mortgage crisis 05:27 PM CDT on Tuesday, August 19, 2008 KHOU.com staff report HOUSTON -- Royce Builders has built thousands of homes in Texas. But now, the company said it is putting the brakes on home building. The president of Royce told the Houston Chronicle currently has 60 to 70 homes under construction. They said after they are complete, they will not be building any more. They have already laid off 160 employees and only 60 employees are still on the job. Royce Builders said the mortgage crisis is to blame. The company said they can't get loans because banks are now reluctant to lend money for real estate. The company has another 80 homes under contract that will not be built. The investment money will be returned. khou.com

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