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i was looking for an article on the developer, keith johnson, but can't find it online. there was a big write up in the newcastle hearld this weekend from him coming clean about the financial situation he recently went thru and exactly what happened and when. he is currently holding sites...

we aren't even bothering to try and borrow for another 12 months. we hit servicibility wall on our last purchase, and credit has only gotten tighter. no one is building in bulk. the onflow for years to come will be interesting.