These might seem like the worst of times for large-scale housing complexes like Riverton Houses, Stuyvesant Town and Savoy Park. Their owners, all of whom bought the buildings at the top of the market, are in rough shape, stumbling under the weight of oversize debts and teetering at the edge of foreclosure.

But in the midst of an unforgiving market in which rents are falling and lenders are showing no mercy, real estate executives and even some housing advocates say that the tenants at these large complexes may come out of this dire situation in good shape.

Everybodys objective is to get the financing back to a reasonable level for this property, said Harold M. Shultz, a senior fellow at the Citizens Housing and Planning Council, a research and advocacy group. Riverton can never be a healthy complex carrying a debt of this size. To the extent that foreclosure make that happen, its a good thing.

Read more in The New York Times.