My guess is that most, if not all, of the public homebuilders will be gone by the end of 2009.... They are very ill suited to be a "public" company....I think they will partner up with a hedge fund....lots of cash and no need to justify to a strict lender.... No barrier to entry and anybody can be a homebuilder.....they will not go out of business but will not be public anymore....some go private and some go bankrupt (Chp 11).... Just my thoughts...... SteveD