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Builders' Bankruptcies Erode Buyers' Confidence

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Builders' Bankruptcies Erode Buyers' Confidence

Economy

Builders' Bankruptcies Erode Buyers' Confidence

Builders' Bankruptcies Erode Buyers' Confidence

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  • <iframe src="https://www.npr.org/player/embed/89064868/89064814" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
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Demand for new homes continues to erode and one reason is that high-profile builder bankruptcies have made people anxious to sign on the dotted line. And with good reason: People like the Carias family in north suburban Chicago are getting stuck with half-finished houses and thousands of dollars locked up in bankruptcy proceedings.

Analysts say as more builders declare Chapter 11, this fear could hobble any housing market recovery — especially in the area of new home construction.

Ashley Gross of Chicago Public Radio reports.