Angelides Keeps Developing

[courtesy of The California Majority Report]

Under the headline "Venture to Exploit Fall in Housing," the Times wire services are reporting that former Democratic gubernatorial candidate Phil Angelides has formed a new $250 million venture to, according to one of its partners, "acquire lots from home builders and lenders looking to sell holdings because of the U.S. housing slump."
 
"There's going to be a tremendous opportunity to acquire land relatively cheaply over the next couple of years," partner Bobby Turner said. "Home sales are still looking very weak. We'll focus on markets we believe will rebound quickly," including California, Florida and other Sun Belt states as well as the Pacific Northwest.