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Home Builder WCI Communities Files for Chapter 11


WCI Home Builders could not obtain the necessary funding to maitain a healthy cash flow.  With $2.18 billion in assets and $1.92 billion in debts WCI had to file for Chapter 11.   WCI Home builders focus on the luxary real estate market where most of its business is centered out of Florida (one the top states for declining real estate prices).   A week ago its stock went from 99c to 2c.  This is a far cry from the ~$20 it was trading for about a year ago.   This is yet another plea for help in our declining real estate market. 

This is a preview of Home Builder WCI Communities Files for Chapter 11. Read the full post (125 words, estimated 30 secs reading time)

And the Award for “Largest Decrease in Home Values” goes to…


Here are the 10 top cities for decreasing property values (as compared to a year ago):

  1. Sacramento, CA (-18.5%)
  2. Las Vegas, Nev. (-17.2%)
  3. San Diego, Calif. (-17.1%)
  4. Tampa, Fla. (-11.7%)
  5. Los Angeles, Calif. (-10.7%)
  6. Miami, Fla. (-10.6%)
  7. Phoenix, Ariz. (-9.5%)
  8. Jacksonville, Fla. (-8.7%)
  9. Detroit, Mich. (-7.7%)
  10. Atlanta, GA (-7.1%)

Click here for the full slideshow from Forbes…

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