Business: Who’s to blame? Coast or CCI?
Or both? Any way, it’s the investors who are left in housing debacle’s lurch.
The Florida housing boom was creating instant millionaires when St. Petersburg builder Jesse Battle III hit on a promising formula to feed the public’s hunger for no-pain, all-gain real estate deals.
Within 18 months, Battle’s company, Construction Compliance Inc., had lined up customers for more than 500 investment homes he would build, mostly for no money down in southwest Florida.
By early 2006, the former home renovator with one bankruptcy under his belt was a player, selling more homes in certain Florida markets than major national builders.