2009-03-15star-telegram.com

Regarding the Dallas-Fort-Worth metroplex (And specifically Portrait Homes, owned by "imploded" Pasquinelli:

It’s a scene being played out all over the area: As builders find it harder and harder to cover the overhead expenses of building a subdivision, with model homes and a sales staff, many are exiting neighborhoods altogether, leaving the unfortunate early buyers to live amid the unfinished mess of empty lots and half-finished homes.

...

The Dallas-Fort Worth area may be feeling the pinch of a tough real estate market less than other parts of the country, but local home builders are still suffering with the downturn, with some going into bankruptcy and others stopping construction in North Texas.

In addition to Portrait Homes, which has halted construction in at least six North Texas neighborhoods, Arlington-based Wall Homes filed for bankruptcy protection in January, and Sheridan Homes filed in August. Wall Homes continues to build as it reorganizes under bankruptcy protection, said Steve Wall, founder of the Arlington-based company.

A tipster who emailed in this article titled it, "modern ghost towns." Indeed.



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