Empty McMansions 0
More coming:
“It wouldn’t surprise me to see one or two of the top 10 homebuilders filing this year,” said Bittner (of Grant Thornton LLP–ed.). “But in most cases, the current lending environment is unique in that as long as a builder has positive cash flow, the lender doesn’t want to foreclose or force a bankruptcy filing. Recovery is more likely if a bank can be patient with a borrower. Positive cash flow and ability to service interest on a credit facility provides for a better negotiation position with the lender.”
