As the boss of one of the major housebuilders put it last week: "It's shit out there and getting shittier by the day and there's no sign of when the shit is going to lift." The four housebuilders that gave trading updates this week were slightly less candid. Persimmon kicked things off with a statement that was not as apocalyptic as some had feared, although one analyst said the fact it was less than upfront about the level of redundancies it was planning (2,000) showed a worrying lack of frankness.
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