TIMELINE - Boom to gloom for housebuilders

(Reuters) - Housebuilders have cut nearly 4,000 jobs in the past 10 days, with some shedding 40 percent of workers to cope with the deepening crisis in the housing market.

Following is a timeline of key events:

2007:

June 27 - Mortgage bank Northern Rock cuts its 2007 profit forecast, blaming a rise in funding costs in financial markets.

August - "Credit crunch" starts appearing in headlines.

September - A run on savings at Northern Rock results in the government agreeing to guarantee all existing deposits.

November 6 - Bovis Homes says global financial turmoil is hitting the housing market, effectively telling analysts to trim their profit forecasts. Other housebuilders tell a similar story in later weeks.

November 8 - Halifax, Britain's biggest mortgage lender, says house prices fell for the second month in a row in October, the first back-to-back monthly falls in two years.

2008