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housing bust
Posts tagged as: housing bust

Speculative Bust: How Widening Old Kings Road Left Palm Coast on Hook for $6.7 Million

| May 16, 2013

Palm Coast borrowed millions from its own utility fund to complete the Old Kings Road widening on the assumption that the economy would pick up and enable the city to re-finance with bonds. That never happened. Now the city is looking to recoup its money from property owners along the road, who’d agreed to a special taxing district but with optimistic assumptions of their own that never panned out.

Foreclosure Tale: When Renters, Despite Protections, Are Intimidated Into Leaving

| October 27, 2011

Palm Coast’s Genis family–mother, father, six children–was duly paying rent on its Smith Trail home when it was sold by the court and the family was given 10 days to clear out, even though it never saw an eviction notice.

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