Hasbini, M A (2017) The great recession of 2007 and the housing market crash: Why did so many builders fail? Lessons for the local homebuilding industry. PhD thesis, University of South Florida, USA.
Abstract
The "Great Recession" of 2007 created havoc in the homebuilding industry, more than any other previous economic down cycle. Countless seasoned local homebuilders across the country did not survive. The impact of their failure on the economy, community, employment, lenders, suppliers, and subcontractors was devastating. While previous studies have sought to identify the symptoms and causes of business failure, very little research has been done on home builder business failure due to acts, omissions, characteristics, or other events which are non-financial. Specifically, those that are attributable to the failed entities' top management and leadership during the housing crisis and the Great Recession. Therefore, the purpose of this qualitative inquiry is to uncover those nonfinancial factors and help to fill the gap in the literature. Additionally, we seek to find specific strategies that could be incorporated into the business models of local homebuilders which allow them to anticipate and navigate turbulent economic times. The ultimate goal of such strategies, however, is to shield the organizations of those builders from the negative effects of recessions and allow them to thrive in the aftermath.
| Item Type: | Thesis (Doctoral) |
|---|---|
| Thesis advisor: | Quinn, J and Heath, T |
| Uncontrolled Keywords: | failure; market; building industry; business failure; business model; employment; leadership; recession; builder; subcontractor; supplier |
| Index terms: | employment, recession, business model, building industry, builder, strategy, business failure, housing, subcontractor, top management |
| Subjects: | construction type, practitioner, economic analysis, management, industry analysis, business |
| Topics: | Construction Technology, Roles and Professions, Research Practice, Business Strategy, Organizational Design, Human Resources |
| Descriptive scope: | 2 PC |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here