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LEVITT Bites the dust!
Unbelievable....... Levitt & Sons finally throws in the hammer and declares bankruptcy. Beazer homes may be next, and I just heard on the news that the sub prime mortgage mess will cost the American economy 2 TRILLION dollars. Alll because the average Joe had to own a home he could not afford, and greedy mortgage lenders were only too eager to give him a variable loan they knew he could never repay . Oh well so what else is new?
Here is the news about Levitt and Sons .
Levitt Meets its Match
But some 200,000 houses and 60 years later, the builder that was once featured on Time magazine when it really meant something has fallen on hard times. Levitt and Sons declared bankruptcy last week.
Citing "unprecedented conditions" in the home building industry that left it unable to meets its financial obligations, the Levitt Corporation (NYSE:LEV) homebuilding unit filed for Chapter 11, leaving its creditors, vendors and customers in the lurch.
And of course unwary Joe investor gets kicked in the family jewels again.
Here is the news about Levitt and Sons .
Levitt Meets its Match
But some 200,000 houses and 60 years later, the builder that was once featured on Time magazine when it really meant something has fallen on hard times. Levitt and Sons declared bankruptcy last week.
Citing "unprecedented conditions" in the home building industry that left it unable to meets its financial obligations, the Levitt Corporation (NYSE:LEV) homebuilding unit filed for Chapter 11, leaving its creditors, vendors and customers in the lurch.
And of course unwary Joe investor gets kicked in the family jewels again.
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