From today's New York Times;
April 3, 2009
By JENNIFER STEINHAUER
LOS ANGELES — A major home builder that helped fuel the country’s building boom is now under attack for what some homeowners and builders say was its role in the bust that
followed.
Several former homeowners spoke here on Thursday about their disenchantment with the builder, KB Home, at its annual shareholders’ meeting. The speakers said the company had pushed them into high-risk, high-interest loans for homes they could not afford and eventually lost to foreclosure.
During the meeting, a few dozen construction workers, many of whom had their work dry up when the home-building market imploded in Southern California, protested across the street.
“I tried to communicate to the board members to try to do better for people in the future,” one of the former homeowners who addressed the board, Santiago Ramos, said after the meeting.
The meeting was closed to reporters. A KB Home spokeswoman,
Heather Reeves, said in an e-mail message, “We want every KB
homeowner to know that we stand ready to assist them in any way
we can to ensure that they are pleased with their purchase.”
I wonder if that assistance includes helping the now former homeowners find a nearby shelter.
We need less regulations. I suspect, we met with a homeowner, home builder yesterday, Congressman. Remember the guy? He was upset that he had to fill out forms at the federal, state, and local level in order to build a house. -George W Bush, Washington, D.C., Mar. 16, 2004