Housebuilders partied like it was '89. And now the pain is like '91
Once again, Tony Pidgley, the Barnardo's boy turned multimillionaire residential builder, is set to make a killing out of a property downturn. While his peers at Barratt and Taylor Wimpey were getting ready to announce mass redundancies and desperately trying to shore up their balance sheets in the worst housing crisis since the early 1990s, the 60-year-old chief executive of Berkeley announced two weeks ago that the company would spend £350m on cheap land.
Read The Full StoryShare: Digg - del.icio.us - Stumble It - News Vine - buzz-itSource: Independent Published: Saturday 05th of July 2008
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