Phoenix: Developers Want A Bailout Too
"We paid too much, and now we need help!"
This time the cry isn’t from "bamboozled" subprime borrowers, but from developers who bid too much for state land purchases:
At least three developers who purchased land in northeast Phoenix’s Desert Ridge area when times were good are seeking relief from the terms of their purchase from the Arizona State Land Department.
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Original Source: housingdoom.com
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