Well, you get the point. One of the most successful home builders in the history of Indiana is closing it's doors. This bizarre economy has claimed another victim in the corporate sense and thousands in the consumer and former employee sense. More layoffs and more peripheral pain in the industries that support housing. What ever you may think, we cannot simply blame C.P. Morgan for failing. It's WAYYYYYYY bigger than that. This is a national economic issue not isolated to this company and it's not over friends. You can see the entire Channel 13 television story with Greg here.
Gosh, sure glad the congress in all of it's infinite wisdom did something to fix housing. Oh, that's right, they didn't. We've now printed 1.5 TRILLION new dollars trying to save the economy and all we could come up with is a pissant $8000 first time home buyer tax credit that will have NO ultimate affect on the overall housing market. The $15,000 credit approved by both houses of congress was whacked by a bipartisan 'negotiating' committee whose identity was not revealed (intentionally) at the time of the signing of the stimulus package. What a load of crap. Fix housing first? What happened to that? How about let's kick housing to the curb. It is obvious now that despite the fact that a 6th grader understands how real estate leads economies into and out of recessions, our Congress and President do not understand or do not care. If we can find $150 million for honey bees we could find money to stimulate housing. Don't bother trying to tell me how honey bees need saving, I'm not arguing that....they just have NO PLACE in the stimulus.
We're not done friends. There are more challenges to come. For our friends formerly employed at C.P. Morgan and the consumers who are left in the wake, you have our significant sympathy. We're all hurting...some more than others.