Jonathon and Brandy Miller are suing homebuilder Hovnanian because after buying their home for $360,000 in 2006 it’s now worth $164,500 and “We just feel like we’ve been wronged,” Jonathon Miller, is quoted as saying. “We were misled when we purchased it and we finally just got fed up and had to take some sort of action to address it.”
It turns out many who bought in the Firenze subdivision were speculators who tried to flip their units for a profit. “Looking back, the Millers say the developer should have worked harder to prevent so-called flippers from buying units. Buyers were supposed to stick around for at least 18 months.”
