Current news for this company:
John Wieland Homes and Neighborhoods - Residential, Condos
The Atlanta-Journal Constitution recently posted a piece concerning John Wieland, who has recently suspended construction on a $350 million luxury condominium project in midtown Atlanta. As there is no shortage of condos in midtown Atlanta either in the process of completion or having been recently completed, we believe this was likely the right decision.
Per the AJC article, John Wieland has been "shocked" by the downturn in housing. The AJC notes:
Though the steep discount was able to drive up sales for Wieland, the company is still marketing some 30 communities and over 400 homes still in inventory. Regarding ongoing sales at Wieland, the AJC notes:
The Atlanta area has some eleven months in unsold inventory. Despite the downturn, Wieland believes his company will survive.
And we'll be watching to see how it all plays out.
Comments: Be the first to add a comment
Note: Comments may take a few minutes to show up on this page. If you go to the forum thread, however, you can see them immediately.
Important: Ailing Builders haven't shut down, but they've suffered significant valuation declines, temporarily halted redemptions, or faced other major business hurdles. Builders on watch may not even have unusual declines relative to peers, but may be posted if it is felt there may be risk of developing a more serious condition in the near future.