Builder’s blues: Selling and sulking

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Coupla quick items about the continuing troubles for big homebuilders:

Selling: This Saturday and next Saturday only: ‘D.R. Horton has announced unheard of savings up to 50% off on a variety of homes at 23 participating neighborhoods throughout Southern California. Unlike any sale homebuyers have ever seen, D.R. Horton’s UnAuction presents dramatic sale prices and unbeatable new home value without the auction hassle.’

Sulking: The Washington Post reports, ‘The National Association of Home Builders, one of the top 10 corporate donors to politicians, has stopped contributing to congressional candidates after it failed to get what it wanted in recent anti-recession legislation.’

More: ‘The powerful lobby said Tuesday that it was taking the unprecedented action of halting its campaign-giving to protest Washington’s failure to address ‘the underlying economic issues that would help to stabilize the housing sector and keep the economy moving forward.’ The group did not mention any specific initiatives.’

Among other things, the builders had wanted changes in the tax laws to reduce their tax liability by allowing them to offset their past profits with future losses. The builders are so ticked off, they even put out a statement announcing that they were suspending contributions.

Thoughts? Comments? E-mail story tips to peter.viles@latimes.com.
Photo Credit: The Associated Press