Unfinished business: High-end home bu...

Unfinished business: High-end home builder in Fort Lauderdale s...

There are 201 comments on the South Florida Sun-Sentinel story from Feb 20, 2009, titled Unfinished business: High-end home builder in Fort Lauderdale s.... In it, South Florida Sun-Sentinel reports that:

FORT LAUDERDALE Glenn Wright's fortunes soared with the city's hunger for luxury real estate.

Join the discussion below, or Read more at South Florida Sun-Sentinel.

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does my vote count

Fort Lauderdale, FL

#1 Feb 20, 2009
its called "greed", "greed", "greed". Showing no respect for a sense of community. The price was high and unfortunately, everyone pays.
Oh Please

Fort Lauderdale, FL

#2 Feb 21, 2009
Let this be a cautionary tale to buyers purchasing preconstruction properties. You are not the first mortgage holder on the home site or home. Sadly for individuals who put down deposits it is unlikely that they will recover much if any of their initial deposit.
big al sharpie

United States

#3 Feb 21, 2009
ENG Air a big loser
Lizard lawyer Grad

Debary, FL

#4 Feb 21, 2009
Did we not all see this coming when the spoiled people of Miami-Dade (90% of the community) panicked when we lost our utilities for five days. The mantra is quite simple, "If it exists, I must have it."

Hence, we are here today with an economic disaster. And, it will take at least 15 years to fix.
Lizard lawyer Grad

Debary, FL

#5 Feb 21, 2009
Again, you have to be crazy to put a deposit on a home that is scheduled to be built. As we say in the great city of Gainesville, "You be dumb."
DAS

Hollywood, FL

#6 Feb 21, 2009
Greed..........Always PAYS BACK
James

Rendsburg, Germany

#7 Feb 21, 2009
The office has long since been closed, the CEO Mr Glen Wright has ran off with the peoples money and there is no one left to sue, get real. Company staff, owners, and builders these days are exempt from Prosecution when decieving the public. Judges dont throw these crooks in jail, after all they did not kill anyone did they. White collar crime, carries very lights jail terms
Drive-by

Kendalia, TX

#8 Feb 21, 2009
Wright was Wrong, in the end. I bet he has some folks that are looking for him right now.
with reason

Fort Lauderdale, FL

#9 Feb 21, 2009
I'm sorry that people have lost their deposits, but he is hardly a crook. His company has closed. Unfortunately this is one of the risks of buying pre-construction. Obviously the posters here have never bought new construction or don't know how it works. Deposits are used to get to a certain stage in the building and the bank finances the building loan. If you need to be angry, there are a whole host of villains you can be angry with, starting with the bank I suppose. I am sure that the buyers will be able to buy one of the foreclosed properties for a song and still be ahead of the game. I fail to see how greed plays into this. The man offered a high-end product, and by all accounts he was a good builder. The deposits were used to to erect the shell of the homes and unfortunately,he could no longer stay in business. I don't see how this is an example of someone running off with the buyers money. The buyers have stated their homes are partially constructed. Tell them to get a hold of Wachovia to arrange for a building loan and work out a deal to get someone to finish it.
It isn't a crime to shut down your business because the bank has called your loans and it doesn't make you a crook because you have failed.
This is an example of a cautionary tale. As a consumer, every time you put a deposit down on something, be aware that if the business folds, you might well be out your money.
I AM A1ACharles Dammit

Lake Worth, FL

#10 Feb 21, 2009
His corporation can be sued, but I doubt he will be.
chop suey

United States

#11 Feb 21, 2009
The state side with contractors. the atty`s will enjoy spending your dime,Good luck throwing your money away.
Yes Please

United States

#12 Feb 21, 2009
Those houses popped up like virus' all over the place. They're ugly as heck, too. Nice to hear that we won't be seeing any more built.
500 million is bupkas

Loxahatchee, FL

#13 Feb 21, 2009
and to think that sellers in Palm Beach still think their homes are worth MORE now than in 2007!

http://palmbeachbuyer.blogspot.com/

http://palmbeachbuyer.blogspot.com
JohnP

Miami, FL

#14 Feb 21, 2009
Good Post. Yes, most people should learn a lesson from this. Never leave large deposits, or put the money in escrow with an attorny's office.

with reason wrote:
I'm sorry that people have lost their deposits, but he is hardly a crook. His company has closed. Unfortunately this is one of the risks of buying pre-construction. Obviously the posters here have never bought new construction or don't know how it works. Deposits are used to get to a certain stage in the building and the bank finances the building loan. If you need to be angry, there are a whole host of villains you can be angry with, starting with the bank I suppose. I am sure that the buyers will be able to buy one of the foreclosed properties for a song and still be ahead of the game. I fail to see how greed plays into this. The man offered a high-end product, and by all accounts he was a good builder. The deposits were used to to erect the shell of the homes and unfortunately,he could no longer stay in business. I don't see how this is an example of someone running off with the buyers money. The buyers have stated their homes are partially constructed. Tell them to get a hold of Wachovia to arrange for a building loan and work out a deal to get someone to finish it.
It isn't a crime to shut down your business because the bank has called your loans and it doesn't make you a crook because you have failed.
This is an example of a cautionary tale. As a consumer, every time you put a deposit down on something, be aware that if the business folds, you might well be out your money.
Calling Mr Ponzi

Fort Lauderdale, FL

#15 Feb 21, 2009
Mr. Ponzi would be VERY proud of Wrong (Wright). His in house realtor Vince Clancy is just as culpable as Wright in these business dealings.
It's easy to look good during prosperous times but Wright & Clancy's true character showed during controversy.
Sangy

AOL

#16 Feb 21, 2009
The legacy and the magic of free enterprise...let rich people do any damn thing they please, because it was written on Moses' tablet that “greed is good!”

It's all in the name of this magical phenomenon "Free Enterprise", the holy grail of Capitalism, the market and the private sector will cure all and somehow magic will spring forth and everybody will be happy. Oh, it's a free enterprise day, greed is good, it's a great Capitalist adventure that will trickle down and bless us all. It is prosperity Christianity that we embrace so say all the fundies on the right...that this new nirvana that we preach will secure a place for us at the table of the humble carpenter, the savior of mankind.

Are you all ready to puke yet?
Jake

AOL

#17 Feb 21, 2009
with reason wrote:
I'm sorry that people have lost their deposits, but he is hardly a crook. His company has closed. Unfortunately this is one of the risks of buying pre-construction. Obviously the posters here have never bought new construction or don't know how it works. Deposits are used to get to a certain stage in the building and the bank finances the building loan. If you need to be angry, there are a whole host of villains you can be angry with, starting with the bank I suppose. I am sure that the buyers will be able to buy one of the foreclosed properties for a song and still be ahead of the game. I fail to see how greed plays into this. The man offered a high-end product, and by all accounts he was a good builder. The deposits were used to to erect the shell of the homes and unfortunately,he could no longer stay in business. I don't see how this is an example of someone running off with the buyers money. The buyers have stated their homes are partially constructed. Tell them to get a hold of Wachovia to arrange for a building loan and work out a deal to get someone to finish it.
It isn't a crime to shut down your business because the bank has called your loans and it doesn't make you a crook because you have failed.
This is an example of a cautionary tale. As a consumer, every time you put a deposit down on something, be aware that if the business folds, you might well be out your money.
"Git me one a dem McMansion and supersize the fries". Gaad, its all good!
RCH

Fort Lauderdale, FL

#18 Feb 21, 2009
What about his low life scum buddy VINCE CLANCY?
Let them both share a cell toegether.
Mr. Clancy should be held accountable for his lies and unethical treatement to the people of Fort Lauderdale.
mjte

Fort Lauderdale, FL

#19 Feb 21, 2009
You've got that one right on this clown "Vince Clancy"
He screwed my wife and I out of our life savings.
TSinc

Fort Lauderdale, FL

#20 Feb 21, 2009
Is Vince Clancy out of the looney farm yet or is he just drugged up?

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