Rafael Cestero, the commissioner of the city housing agency, the Department of Housing Preservation and Development, told a City Council committee in April that a "small but significant proportion" of multifamily buildings bought in recent years may be overleveraged, meaning their debt is unsupportable by the income generated by the rents.
On Monday, Workforce Housing Advisors, a group focused on salvaging working-class housing in buildings that have been overleveraged, became the building's owner.
Global economic shocks have had less of an overall impact on the Indian economy because a smaller percentage of their people were overleveraged or overinvested in the stock market.
"If they are overleveraged, it won't be the senior debt that suffers".
If other developers are overleveraged, as many were in the last boom, said Mr. Zucker, who is currently beginning 77 rental apartments at 30th Street and Ninth Avenue, "then guys like me are going to come along and buy up their buildings".
Some of the unfortunates profiled here are overleveraged, some suffered from overambitious management and some are in the wrong industry at the wrong time.
In his case and others, investors and lenders are forgiving losses incurred after a bubble in which everyone from the smallest homeowner to the largest bank was overleveraged.
Raytheon had been overleveraged for years, and it promptly used the $2.4 billion in net proceeds to call in $1 billion of debt and boost its share buyback program by $750 million.
The people that are overleveraged are going to get hurt.
When you're overleveraged, your entire future depends on cash flow, and the cash flow isn't there for countries like Greece.
