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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Tradelite who wrote (6330)10/28/2002 12:21:50 PM
From: The Duke of URL©Read Replies (1) of 306849
 
Large homebuilders are pawns of the large banks that fund them. They are nothing more than morgage manufacturers. When the lender pulls the plug, the builder will be the last to know and the most committed.

A housing project takes a minimum of five years of capital commitment. Do you think the lender, who is secured by the land is going to warn the builder who is borrowing to get the permits which makes the land MORE valuable as a foreclosure security to the bank??

If you do, then you don't know much about the big picture of real estate.
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