But moves by several of the largest for-profit, private builders put them in better shape to reap rewards in 2011.
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Joint venture South Edge, led by KB Home, is being forced into involuntary bankruptcy.
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The industry was supposed to mount a recovery this year, but a variety of forces instead conspired to hold builders back.
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Their petition claims the build-out of Inspirata has been bungled by builders looking out for themselves.
CEO Joel Shine shares that his company has made strategic deals in several Western states since it exited Chapter 11.
But will their attitudes change when business starts picking up again?
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Builder had operated in Florida and Washington, D.C., metro markets since 2004.
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Closings decline 21% among 10 largest private home building firms.
But changes to their operations are attributed more to market conditions instead of bankruptcy.
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Builders had to deal with new appraisal rules, limited lending, Chinese drywall, and more.