Homebuilding 2nd on Troubled Industry List

Homebuilding came in second only to the automotive industry in a recent poll as the industry facing the greatest financial or operational difficulties in the coming year, according to the Chicago-based Turnaround Management Association.In the association's annual Trend Watch poll, 58% of the respondents named homebuilders as likely to face the worst difficulties, compared with 74% who picked the automotive industry. (Respondents were not limited to only one choice.) Construction and contractors were named by 36%, and the manufacturing sector got the nod from 26%, the TMA reported. "Homebuilders are sitting on undeveloped land they once considered assets," said Tom Henderson, a Houston attorney who serves on the TMA's international board of directors. "Now the land's become just another form of liability, as sales of new homes in most markets have slowed." The association can be found on the Web at http://www.turnaround.org.