Several UK housebuilders including Barratt and Persimmon have announced sweeping job cuts due to the downturn in the housing market.
The crisis has also had a knock on effect for other businesses.
Here are a selection of comments from BBC News website readers.
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My husband is currently employed by Barratt Developments and has been notified that he is 'at risk' of redundancy. The first notification we had of this was last week. We still do not know when he will find out the position regarding his employment.
Vicky, North East England
I work for the Barratt Office in Chester and have recently been told that our office will be closed and all of us who work here will be losing our jobs - about 50 people. A lot of us here feel angry and upset about this as we think the acquisition of Wilson Bowden has killed off our company.
My husband works for Barratt and I worked for them in the last housing market crisis in the early 90's. Things were bad then but they shone through the downturn and will do so again. The problem house builders are experiencing at the moment is that mortgages are difficult to come by for a large percentage of people and until the lenders address this issue then things will hardly improve.
At the moment I think I can speak for all bricklayers in East and Central Scotland when I say that the pinch is a lot tighter than most people think with the average brickie team lucky to have 6 weeks work in front of them.
Derek Johnstone, East Lothian, Scotland
I own a brick cutting company that supplies cut bricks to Barratt sites. Why is the government not helping this industry like it has helped the banking industry? After all it's the banks that have caused the downturn in the building trade.
Malcolm Poole, Atherstone
We are a sub-contractor supplying to UK housebuilders and the affect on the wider economy is massive. I am laying off staff weekly. 4,000 direct employees of UK housebuilders have lost their jobs this week. If this was another industry it would be the main news every night and we would have MPs wringing their hands about a British institute. The demand to purchase is there - the banks will not lend the money.
Where is our "Housing Minister" at this time of crisis for this important industry? All developers' job cuts can by multiplied by 4 when it comes to all the contractors they use on sites. Most sites have a site manager and two other direct staff. All others are contractors.
Peter Selby, Swadlincote, Derbyshire
I work for a small design consultancy whose work is 100% housebuilding. We do planning/ engineering designs/ architectural designs for people like Barratt/ Bloors etc and our workload is 75% down on last year. All our clients have been saying for 6 months that footfall through sales centres is consistent with last year. The banks completely screwed up lending "free" money to people who couldn't afford it, and now no one can afford to move house thanks to the banks being too tight.
Martin Philpott, Stratford upon Avon
It's not the number of job cuts made directly by the UK's biggest house builders that's the story here - it's all the sub-contractors who work on these sites that are being laid off. On a typical site for every UK housebuilder employee there is generally 30-40 or so contractors. It is these people who are being seriously affected. In the last six months I've probably been working a 2 day week due to such a shortage of work.
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