Home Builders and the Global Financial Crisis

The market was completely ded and all of a sudden you could buy an existing home that was going into foreclosure for a hundred 63 thousand dollars. So builders who had to pay for labor, for lumber, right to actually build a house couldn't build a house for that cheap. They went from building one point five a million a year down to about 750 a thousand homes a year after that. And it stayed like that until about 20 15 when they started rebuilding gain but they didn't rebuild at the same rate as before. We're rebuilding right now. We're building probably new inventories, one point, i'd say, one point two million annually.