I read:

The market’s worst loss since February comes on worries about housing, credit markets contraction and ExxonMobil’s disappointing earnings report. Apple’s earnings shine; Ford surprises with a profit. Is the end of the leveraged-buyout era here?

As reported in our preliminary release last week, the home-building industry continues to face an extremely difficult environment that includes record existing and new-home inventory levels, intense price competition and weak consumer sentiment for housing, CEO Richard Dugas said in a statement yesterday.

Also read: Mortgage Rates fall