Bankrupt builder leaves buyers hanging

A large housing development has been left unfinished by Levitt &
Sons, a unit of the Levitt Corporation, which declared bankruptcy in
November. Work has stopped on a 460-home senior housing development
called Seasons at Prince Creek West in South Carolina. Levitt’s
bankruptcy lawyer, Paul S. Singerman, said that the company’s
southeastern customers have suffered because Florida’s market went into
“an absolutely unprecedented and catastrophic downturn.” Levitt
popularized the postwar suburban home with Levittown, built on Long
Island.