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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: MulhollandDrive who wrote (100902)1/19/2008 10:47:13 PM
From: Elroy JetsonRead Replies (1) | Respond to of 306849
 
I agree with you. The talk in the home builder industry is that roughly half of the top ten home builders will eventually file a pre-packaged bankruptcies.

In Southern California, Irvine based SunCal is a giant with very deep pockets that few outside of the business have heard of. SunCal is a creature funded by Lehman Brothers, just as Blackstone is a creature of Merrill Lynch.

SunCal is a major land developer which sells and JVs land with other large builders - and they're defaulting on a slew of major projects, walking away from their investment and defaulting on hundreds of millions worth of loans. Employees working at SunCal have suggested Lehman Brother will assume control of SunCal squeezing out the managing owners.

The value of raw land is cratering.
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To: MulhollandDrive who wrote (100902)1/21/2008 4:25:39 AM
From: MoominoidRead Replies (1) | Respond to of 306849
 
I don't think it's the end yet. I hear a lot about which are the weakest housebuilders. Which are the strongest ones? Which might be more likely to be acquired than BK?


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