Housing Bubble Central - Real Estate News That Affects You
Housing Bubble Central header image 2

New home developments stop in their tracts

December 22nd, 2008 · Permalink



Josh Adams from Triple B Concrete works on smoothing out cement in an intersection of the first phase of the Elim Valley development Wednesday, March 26, 2008 in Hurricane, Utah. 'Elim Valley' is by far the largest of the housing developments stopped in their tracks around St. George, once the second-fastest growing U.S. metropolitan area. So far only one lot has been sold. (AP Photo/The Spectrum, Jud Burkett)AP - Roland “Rollie” Walker, the owner of southern Utah’s largest incomplete subdivision, is being forced to sell the trees to keep his project afloat. Creditors are posting foreclosure notices on his land, and banks are refusing to loan him money.


Article Source