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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: mishedlo who wrote (57575)7/12/2006 1:34:11 PM
From: Ramsey SuRead Replies (2) of 306849
 
It is very strange indeed.

Here are thoughts:

Mechanics liens cloud the title immediately, making it virtually impossible to transfer ownership. Why would LEN allow that to happen, knowing full well that is the subs will do if they are not paid?

This is a framing contractor. Framing is one of the earliest stages of construction. I suspect the other subs got to know that dispute between their client and the other subs. If I am one of them, there is no way I am going to work on the projects. Why would I want to put myself in the same position as the framing contractor?

If these homes are not going to be deliverable, would the buyers be totally off the hook and get their deposits back? Wouldn't that guarantee a spike in canc rate for these projects?

Strange. This is painting the picture of a builder that is ready to go down. As bearish as I am, I did not think that LEN is in that position.
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