Despite record vacancy and inventory levels, the developers continue to add to insanity.
The Sun-Sentinel reports, "Housing slump. Burst bubble. Real estate decline. Really?"
"Developers in Fort Lauderdale sought and obtained approvals Tuesday for 629 residential condos or apartments that had been approved several years ago in slightly different form but never built. The projects will move forward, the developers say, even in a real estate market that has frightened off some investors."
"Despite a lot of bad rap about the real estate market, developers continue to submit building plans in Fort Lauderdale City Hall for new multi-family residences, while construction continues on hundreds of condo units approved in recent years."
"For example, construction workers this week hammered away on twin condos at the beach, completing the top floor of the 172-unit Sapphire condo and hoisting the ceremonial tree to the rooftop. Across from Holiday Park on Sunrise Boulevard, the same developer, Joel Altman, has a rental complex called Satori under construction."
"Developer and lawyer Ron Mastriana knows about slump-time building. Mastriana just finished Coconut Grove Residences on Holiday Drive, with 57 condos on the beach sand in Fort Lauderdale. And his 63-unit Bamboo Flats downtown, on Third Avenue, just opened as well."
Subscribe to:
Post Comments (Atom)
Stumble It!
21 comments:
The phrase 'their own worst enemy' comes to mind. Or maybe 'couldn't happen to nicer guys'.
Nice to see you back.
The fatal combo. Mortgage fraud and unaffordable insurance.
Can someone explain how developers can continue to build? They have to pay for land, lumber, cement etc. Then they have to sell at a loss--NO?
Can someone explain how developers can continue to build? They have to pay for land, lumber, cement etc. Then they have to sell at a loss--NO?
They have the construction or REIT loans on hand, and materials + labor are SUPER CHEAP right now. There are also several angles for "bezzle" and outright fraud here too, e.g. collateral schemes/scams (CDOs/MBS/etc.), as good ol' crony capitalism takes its damn sweet time UNwinding Wall Street's shenanigans. GRRRrrr...
FYI, it's almost always worth it to "top out" a highrise (or mid-rise) building, in order to preserve your investment, i.e. protect it from the elements.
For instance, the Sapphire Condos mentioned in the blog, in 2800 blk. of N. Ocean Blvd., FTL, were "topped out" alright, but the interior is UNfinished, and not a single unit has been sold. They're just standing there, 2 white elephants, about 12 stories each.
Developer and/or bank left holding the bag for property taxes.
I was curious if you ever thought of changing the page layout of your site?
Its very well written; I love what youve got to say.
But maybe you could a little more in the way of content so people could connect
with it better. Youve got an awful lot of text for only having 1 or two images.
Maybe you could space it out better?
Feel free to visit my blog ... Luis Souto ecommerce projects handled boat supplies
I'm really inspired with your writing abilities as smartly as with the format for your blog. Is that this a paid subject matter or did you modify it yourself? Either way keep up the excellent high quality writing, it is uncommon to peer a nice blog like this one today..
Here is my homepage ... network marketing videos
Hi there just wanted to give you a quick heads up.
The text in your post seem to be running off the screen in Opera.
I'm not sure if this is a format issue or something to do with internet browser compatibility but I thought I'd post to let
you know. The style and design look great though! Hope you get the problem resolved soon.
Cheers
Feel free to visit my web page :: best remodeler in orlando fl
Hello! I'm at work browsing your blog from my new iphone 4! Just wanted to say I love reading your blog and look forward to all your posts! Keep up the great work!
Also visit my homepage bayou adjustable dumbbells
my page - adjustable dumbbells reviews
Hey there! I simply wish to offer you a huge thumbs
up for your great info you have got right here on this
post. I'll be coming back to your site for more soon.
Take a look at my page; product reviews
I am really loving the theme/design of your blog. Do you ever run into any internet
browser compatibility problems? A few of my blog visitors have complained about my
site not operating correctly in Explorer but looks great in Opera.
Do you have any suggestions to help fix this issue?
my site :: Kenny Nordlund graduate education at UCLA
Your means of telling everything in this post is really nice, all can without difficulty understand it, Thanks a lot.
my webpage: http://www.babesflick.com/video/28929/erotic-tarra-white-squirts-outdoors-by-infinity-pool-joymii.html
Hello, after reading this remarkable piece of writing i am too cheerful
to share my knowledge here with friends.
my homepage - http://www.cuteteenporn.net
I am regular visitor, how are you everybody? This
post posted at this website is really good.
Feel free to visit my webpage http://www.jnmassage.info
Hi there, I think your site could possibly be having internet browser compatibility issues.
Whenever I look at your web site in Safari, it looks fine however, if opening in
IE, it has some overlapping issues. I simply wanted to provide
you with a quick heads up! Besides that, great site!
My web site - Sexygirlchat
I don't leave a leave a response, however I browsed a lot of comments on this page "Developers continue to build". I do have 2 questions for you if you do not mind. Could it be only me or do a few of these remarks come across like they are left by brain dead folks? :-P And, if you are writing on other sites, I'd like to keep up with everything
new you have to post. Could you make a list of every one of your social networking sites like your linkedin profile, Facebook page or twitter feed?
Also visit my web-site sexvideovoyeur.com
What a material of un-ambiguity and preserveness of precious
experience concerning unpredicted feelings.
Review my web page; teenpornpost.com
Fastidious answer back in return of this issue with solid arguments and telling everything on the
topic of that.
Have a look at my site get free naked teen xvideo videos
ecig forum, buy electronic cigarette, smokeless cigarettes, best e cigarette, smokeless cigarette, ecigarette
Post a Comment