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Homebuilders throw out welcome mat again
A group of survivors from the collapsed homebuilding industry is tossing our tradition and conventional wisdom for a shot at renewed prosperity in a convalescing North Texas market. Without benefit of bank financing, they have joined forces to put out the welcome mat for one end of the homebuying market that has long been neglected: first-time buyers.
A reunion of old building associates working as Lifestyle Group Inc. believes the long, dry spell of low-end building has created a market niche they can build on. Tighter vacancy rates and vanishing free-rent deals in apartment buildings also are creating a demand for new, inexpensive homes.
Lifestyle is going against the grain of the post-bust construction market, …