New Home sales have hit a record low not matched since the Jimmy Carter Administration in 1979-82 when Interest rates were 14 percent and higher for home loans. Weyerhaeuser lost $148 Million so far in first quarter 2008 due to its product line being dependent on new home building.


Daniel Fulton, President of Weyerhaeuser say they are experiencing a record low production when adjusted for inflation. Total profits were only 48 million dollars and after having higher then expected returns the companies sales are still extremely disappointing.