“The market adjusted more dramatically than we anticipated,” Stark said. “If you would have told me, this market would have gotten hit 67 percent in two years, I would have said you have no idea of what you’re saying. No one expected two-thirds of the market to go away, and now we have to work through it, and that’s what we are doing.”
Prudential Americana Group in Las Vegas, Nevada files for Chapter 11 bankruptcy.
1 response so far ↓
1 Ian Mariano // Dec 19, 2007 at 1:31 pm
Oh boy.
“If you would have told me, this market would have gotten hit 67 percent in two years, I would have said you have no idea of what you’re saying.”
Reno is not too far behind. Though in some aspects we are still in a ‘better’ position. But we also experienced some steep drop specifically 2005 when the market topped: http://renomarketblog.typepad.com//reno/2007/08/reno-sparks-m-2.html
-Ian
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