Monday, May 11, 2009

Excess Capacity

Automakers, homebuilders. It's all good.


And in related news closer to home, right next door in fact:

Kingston's White Horse Development in Foreclosure

White Horse owner and developer Bob Screen said Friday his bank is pursuing foreclosure on a portion of his White Horse development in Kingston.
Screen acknowledged he is in default on his loans to the tune of $5.7 million. The properties involved are 159 undeveloped lots and his par-72 golf course, which is for sale.
The course and the 159 lots will go to auction Aug. 14 if he can't come up with the money. Screen said he's "cautiously optimistic" he can avoid foreclosure on the course, which will remain open for the foreseeable future.


 

2 comments:

  1. Those are some real sweet comments on the YouTube video. It warms the cockles of my heart to see that compassion is not gone from American hearts.

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  2. Ah, time to get off the net. I know you know YouTube commenters do not represent 350 million Americans, but only 14-year-olds, a much smaller number.

    ReplyDelete