There’s an interesting article in the Dallas Morning News which quotes Kent Swig, a millionaire real estate developer who is struggling with a $28 million judgment on his condo conversion project. His comments were very revealing about how he and others like him view bankruptcy. Referring to his personal bankruptcy options, Swig said:

“We are exploring all options,” one of Swig’s …

Tags: Bankruptcy Condominium Dallas Morning News

… Co. and it subcontractors for work on the tower located on Maple Avenue… Work stopped on the condominium project last summer with about 10 stories of 22 planned completed.

This isn’t the first high-end commercial real estate project to face bankruptcy and most likely it’s just one of many to come.  The commercial real estate industry is being rocked by a number of bankruptcies as the industry’s buyers and financing severely contracts.  For about the past 10 years the engine of …

… 2008. That’s a 12 percent nosedive from the sale price peak of $158,000 in June 2007.And the condominium market is suffering even more during this foreclosure and credit crisis, with sales down as much as 30 percent. Those homeowners facing foreclosure are in big trouble as their home values decline and their ability to sell is nearly non-existent. We can expect to see more foreclosures as homeowners decide to abandon their homes as values continue to drop. Homeowners facing …