Condo Crash Coming - GoFuckYourself.com

wonderman · 02-18-2006, 07:48 PM

I am so glad I got out of this market just in time.

Condo Crash Coming

In a few markets where developers have been incautiously building more condominium units than can possibly be absorbed at once ? including Miami, Palm Beach and Fort Lauderdale in South Florida with 25,888 apartments under construction and Chicago, where 15,013 units have been started, according to Torto Wheaton Research/Dodge Pipeline ? industry watchers are expecting prices to collapse. In those markets, where experts believe that 70% of the new condominiums are being purchased by investors, prices could drop by 30% between 2006 and 2007. By contrast, about 9,600 condominiums are being built or converted in the Washington, D.C. metropolitan area, and experts think that they can be absorbed, particularly because they cost less than single-family homes and are an attractive alternative to prospective buyers who can?t afford a house. Some 7,000 condominiums were sold in Washington during the first half of this year. Since 2001, condominium sales have increased almost 50%, according to Condo-Mania!, a report by Wachovia Securities. But the volume is still relatively small, with $13.2 billion in sales during the first quarter of this year, compared to $300 billion in single-family sales during that time. (www.housingfinance.com)
Apartment Finance Today (Nov.-Dec. 2005); Bendix Anderson

http://www.nbnnews.com/NBN/issues/20...ast/index.html

KRL · 02-18-2006, 07:57 PM

20%-30% down easy. Bargain hunters will be able to find sellers just looking to bail and get real steals at 30% to 50% off the highs.

NETbilling · 02-18-2006, 10:45 PM

uh oh.... trouble ahead

Mitch

warlock5 · 02-18-2006, 11:00 PM

Worse, people with pre-construction contracts when the project goes bankrupt.

xclusive · 02-18-2006, 11:13 PM

all I know is i'm going to be in a position to Buy, Buy, Buy

02-18-2006, 07:48 PM	#1
wonderman So Fucking Banned Join Date: Jan 2006 Posts: 282	Condo Crash Coming I am so glad I got out of this market just in time. Condo Crash Coming In a few markets where developers have been incautiously building more condominium units than can possibly be absorbed at once ? including Miami, Palm Beach and Fort Lauderdale in South Florida with 25,888 apartments under construction and Chicago, where 15,013 units have been started, according to Torto Wheaton Research/Dodge Pipeline ? industry watchers are expecting prices to collapse. In those markets, where experts believe that 70% of the new condominiums are being purchased by investors, prices could drop by 30% between 2006 and 2007. By contrast, about 9,600 condominiums are being built or converted in the Washington, D.C. metropolitan area, and experts think that they can be absorbed, particularly because they cost less than single-family homes and are an attractive alternative to prospective buyers who can?t afford a house. Some 7,000 condominiums were sold in Washington during the first half of this year. Since 2001, condominium sales have increased almost 50%, according to Condo-Mania!, a report by Wachovia Securities. But the volume is still relatively small, with $13.2 billion in sales during the first quarter of this year, compared to $300 billion in single-family sales during that time. (www.housingfinance.com) Apartment Finance Today (Nov.-Dec. 2005); Bendix Anderson http://www.nbnnews.com/NBN/issues/20...ast/index.html

02-18-2006, 07:57 PM	#2
KRL Entrepreneur Join Date: Oct 2002 Location: USA Posts: 31,429	20%-30% down easy. Bargain hunters will be able to find sellers just looking to bail and get real steals at 30% to 50% off the highs. __________________ If you would like to develop your domains, you can lease inexpensive foreign labor from the leaders in the field at iWebmasters.com TO LOWER YOUR COSTS AND INCREASE YOUR PRODUCTION! * * * * * * * * * * * * Domains Adult News KRL's Newsletter Biz Tips Just Listed Domains

02-18-2006, 10:45 PM	#3
NETbilling Confirmed User Industry Role: Join Date: Jan 2002 Location: Huntington Beach, CA Posts: 8,591	uh oh.... trouble ahead Mitch __________________ Mitch Farber CEO - NETbilling, Inc. Email / Phone: 888-357-8166 / 661-252-2456 Transaction processing & 24/7 call center services with exceptional rates and flexibility, since 1998!

02-18-2006, 11:13 PM	#5
xclusive Too lazy to set a custom title Join Date: Apr 2004 Location: Buffalo, NY Posts: 35,218	all I know is i'm going to be in a position to Buy, Buy, Buy __________________ I support MediumPimpin.com / Shemp's Outlawtgp.com /

02-18-2006, 11:00 PM	#4
warlock5 Confirmed User Join Date: Jan 2004 Location: Uranus Posts: 2,808	Worse, people with pre-construction contracts when the project goes bankrupt.