Thursday, February 28, 2008

Levitt bankruptcy

Levitt, the company that built archetypal American suburbs, has filed for bankruptcy:

More than a half-century ago, Levitt helped to pioneer the whole notion of suburbia when it built Levittown, a post-war community of mass-produced housing in New York. Other Levittowns followed — in New Jersey, Pennsylvania and Puerto Rico.

In recent years though, Levitt and Sons accumulated debt, and with the downturn in housing sales, its luck finally ran out. When the company filed for Chapter 11 bankruptcy in November, Levitt halted construction on dozens of projects from South Carolina to Florida.
Levitt Bankruptcy Leaves Homeowners in the Cold (NPR)

Related reading
Levittown (Wikipedia)
Levittown: Documents of an Ideal American Suburb (Peter Bacon Hales)
Slideshow: Levittown Through the Years (New York Times)

Jason Dockter, who blogs at insert title here, pointed me to this news. Thanks, Jason!

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