new home builders: builders filing for BK in record numbers
- 08/31/08 07:23 AM
A big wave is hitting as a result of the housing crisis.... owners of smaller and mid size builders are becoming casualties. Three years ago, at the peak of the maket, builders borrowed from regional banks to start developments across the country. We know about the drop i home prices as the home market turned cold. Buyers vanished. . Now , record numbers of new hoje builders are have filed for bankruptcy protection. These companies how millions and millions of money to subcontractors, millions in debt to his banks, and slary to employees. I hope things turn adn turn quick as builders are critical to the economy … (0 comments)
A big wave is hitting as a result of the housing crisis....;)
;)
