Housing bust drives down cost of building materials

02/28/2008 | Sacramento Bee (Calif.) (free registration), The

With construction down sharply, homeowners looking to remodel are finding lower prices on everything from lumber to granite. That's hurting the bottom line of such building materials companies as USG Corp., which reported a $28 million loss in the fourth quarter. "High inventories of unsold homes, tighter mortgage lending standards and a decline in residential repair and remodeling activity caused wallboard shipments and prices to fall throughout 2007," the company said.

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Sacramento Bee (Calif.) (free registration), The

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