Thoughts on KB's exit?

July 11, 2007
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More bad news on the housing front, as KB Home says it's bailing on Indianapolis. KB HomeHow big of a loss is it? KB entered the market in 2004 with its purchase of Dura Builders, and had been the city's fourth largest homebuilder. The departure of the Los Angeles-based homebuilder comes as the number of residential building permits issued in central Indiana has tumbled, from 13,202 in 2005, to 9,514 last year. So far this year, just 3,822 have been issued.
  • ...So far this year, just 3,822 have been issued.

    That's because Marion Co. is running out of corn fields!
  • One less business out trying to make a buck by building more cracker jack box houses is fine with me.

    Let's get some of the existing hopes purchased before we worry about more urban sprawl.
  • Does this really prove anything oher than the fact that Indianapolis's housing market is now despressed like every other market in the country? It doesn't really matter what crappy suburban developer is building crappy suburban houses.
  • Good riddance purveyors of sprawl!
  • I interviewed for a PR job with KB Home in 2005 while I was still living in Chicago. I made it to the final two. I had been reading economists reports for months warning of a housing bubble. When I asked the interviewers about their thoughts, they scoffed

    They basically told me, the market was going to continue to be strong and they saw no end in sight for growth. I thought to myself, Idiots.

    As I've paid attention to all of KB's troubles since then, I do appreciate a little schadenfreude.
  • So who's going to step in and fill the popular, tan, overproduced, vinyl market?
    Down with the VINYL VILLAGES!!!! Of course a stiff wind could do that. Who buys these crappy houses anyways?
  • Kevin G, don't you worry. We still have C(ra)P Morgan building their 3000 sf houses for 100K.
  • KB did it to themselves.....Another classic macro-economics case of over saturation.....
  • Let's not forget the concept of affordable housing. If we continue to ship our intellectual property and manufacturing overseas and south we will be left with the service industries. I don't know too may salaries in that industry that support much over the vinyl villages home prices you are describing.
  • My nephew worked for KB Homes in Florida and was let go late last year because of the slumping (and over-priced!) housing market down there. Indy's now catching up, and the property tax situation won't help things any. There's enough cookie-cutter builders around here anyway.
  • I'm happy to see a ticky-tack home builder elave, but agree with the comments above: given Indy's new property tax situation, several of my Warfleigh neighbors are looking at what they can buy up north. And a depressed housing situation is bad for all of us (though good for the land, yay!).
  • Good riddance.

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  1. I had read earlier this spring that Noodles & Co was going to open in the Fishers Marketplace (which is SR 37 and 131st St, not 141st St, just FYI). Any word on that? Also, do you happen to know what is being built in Carmel at Pennsylvania and Old Meridian? May just be an office building but I'm not sure.

  2. I'm sorry, but you are flat out wrong. There are few tracks in the world with the history of IMS and probably NO OTHER as widely known and recognized. I don't care what you think about the stat of Indy Car racing, these are pretty hard things to dispute.

  3. Also wondering if there is an update on the Brockway Pub-Danny Boy restaurant/taproom that was planned for the village as well?

  4. Why does the majority get to trample on the rights of the minority? You do realize that banning gay marriage does not rid the world of gay people, right? They are still going to be around and they are still going to continue to exist. The best way to get it all out of the spotlight? LEGALIZE IT! If gay marriage is legal, they will get to stop trying to push for it and you will get to stop seeing it all over the news. Why do Christians get to decide what is moral?? Why do you get to push your religion on others? How would legalizing gay marriage expose their lifestyle to your children? By the way, their lifestyle is going to continue whether gay marriage is legalized or not. It's been legal in Canada for quite a while now and they seem to be doing just fine. What about actual rules handed down by God? What about not working on Sundays? What about obeying your parents? What about adultery? These are in the 10 Commandments, the most important of God's rules. Yet they are all perfectly legal. What about divorce? Only God is allowed to dissolve a marriage so why don't you work hard to get divorce banned? Why do you get to pick and choose the parts of the Bible you care about?

  5. Look at the bright side. With the new Lowe's call center, that means 1000 jobs at $10 bucks an hour. IMS has to be drooling over all that disposable income. If those employees can save all their extra money after bills, in five years they can go to the race LIVE. Can you say attendance boost?