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An Adjustment Was Due In California
Posted on April 24, 2008
The Sacramento Bee reports from California. After months of wrangling with lenders over huge debts accumulated during the housing boom, prominent Sacramento-area home builder John D. Reynen filed Wednesday for personal bankruptcy protection. Analysts say the value of thousands of acres the company bought at high boom prices three and four years ago has collapsed at the same time the firm s home sales have fallen. The company has since halted much of its home building. Reynen & Bardis also has been embroiled in recent controversies over allegedly defective homes in Rancho Murieta. In ...
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