Where Should I Start?
The housing industry, like many industries in America, is facing hardships that were unimaginable a little over 3 years ago. Job losses, high inventories, years of financial pain, and a decreased demand for new homes, plague the industry that provides many of us with a place we call home. A quick glance at builder-implode.com is one way you can take the industries struggles all in, or, you can check out the performance of any public builders stock over the past 3 years…neither source shows a rosy past or paints a bright future. The industry, outside of a few spiffs for buyers, has refrained from asking the government for a “bailout” of their own. Despite a largely ineffective $7,500 tax credit for new homebuyers, they have received little help. It’s refreshing to see that, amongst all of this, one home builder is staying positive and working smart.
Ivory Homes - #1 Utah Home Builder
Ivory Homes, Utah’s largest homebuilder is running out of time. Homes are hardly selling, investors want lent money back and creditors will not lend new money. In a time when you would think Ivory Homes would be packing their bags, and heading home, Owner Roland “Rollie” Walker remains upbeat, mentioning, “We’re doing property tours everyday”. In addition to maintaining a winning attitude, Ivory Homes is getting creative and is selling 7,500 trees to help pay down debt. The worst part of the Ivory Homes’ story is that Walker, in debt, facing foreclosure on land, and out of lending options, states that he thinks he is better off than many he knows.
I commend the builders that are staying positive and struggling to stay in business by working hard and smart. Keep up the good work 
I am sure I’m not the only one wondering how long home builders can hang on; not just Ivory, all of them. They’ve done everything possible to stay afloat, they cut back in nearly every category and have taken huge losses for 3 consecutive years…is it only a matter of time, and if so…would you be against a housing bailout?
I understand that there’s no big 3 in new housing, but as a whole, the industry is more than important to the success of us all.
Is it their fault, or where they only trying to meet a demand caused by “affordable housing” and barely regulated lending.
What Say You?
Subscribe to our New Homes Blog!
well positivity is really important thing in debt consolidation.
It is a hard time to be a builder right now! For the past year I’ve seen many builders go under and face serious problems. Staying positive is important – hopefully things will get better soon.
Chelles last blog post..Year End Questions to Ask Yourself
@Chelle – building new homes is definitely tough right now – I hope things get better for builders soon. Would be rough to see one of the top 5 or 10 go down.
@Debt Help Blog – yep staying positive is always important, especially when things aren’t going as expected.
I think some are struggling more than others. I expect the forthcoming year to be a time for investors to snap up bargains to cash in on a future bounce back.
If some builders implode, the sector as a whole won’t go away. Recessions are merely the launching pad for the next cycle’s transfer of wealth.
JCLs last blog post..Househunting For Investment Properties
This article is factually incorrect:
Ivory Homes, Utah’s largest homebuilder is running out of time. Homes are hardly selling, investors want lent money back and creditors will not lend new money. In a time when you would think Ivory Homes would be packing their bags, and heading home, Owner Roland “Rollie” Walker remains upbeat, mentioning, “We’re doing property tours everyday”.
this guy is not the owner of Ivory Homes, good luck
@JMR – thanks for the information – any idea who the owner is so I can fix it? You might want to let the Associated Press know too. Happy Holidays and thanks for stopping by.
It’s like a perfect storm for first time buyers. All 3 elements are in force. 1. Two years of record price drops on new homes in Utah 2. lowest interest rates in a long, long time, 3. Federal and state incentives, including Utah’s limited time grant of $6,000.
It’s amazing how much risk people took in the past witt stupid loans and unsupported price increases in homes. Peopl followed like sheep.
NOW, is the time to take somes risk as the down side is preety limited. Sure the biggest risk right now is propbaly job loss, but sometimes you gotta do, what you gotta do.
With Obvious motives,
Dave Irwin
VP Sales & Marketing
Hamlet Homes