Miami condos for sale. On fire! Fire!!

There have been a lot of articles in both the Miami Herald and Sun Sentinel lately regarding the real estate implosion especially among all the new condos going up downtown.

I still think it has another 9-18 months to go before completely tanking out. It was on the skids before the credit crunch but now with all that see even more of a problem. They had an article on one poor guy who purchased a 1 BR in Bal Harbour for $585,000 US. Nice place and all but $585K!!!

For those who would like to travel more frequently to Colombia Miami is the best US location and there are still some good jobs, but don't I know how long it will last with the cascading effects from the housing downtown. Then again it was real hard to make ends meet on the average income before the condo. meltdown.

Do you think Florida and/or the US is going into a recession or worse??

Finally wore my "Colombia es pasion" T this weekend. Mostly un-noticed although I got one "Colombia!" from someone on their way to the Latin Club next door to my 80s club in downtown Orlando. One lady inside the 80s club kept giving me some really strange looks but think it was because of my Goth boots.

By nine inch nails on Aug 28, 2007, 06:49 in Friendly Talkzone.

rhydewithdis says on Aug 28, 2007, 06:57:

How much have prices dropped? Can you give us any ideas? Even more insightful would be how much prices on existing condos are dropping versus prices on newly constructed condos. Are developers accepting major concessions, slashing prices, etc...

They said I couldn't play football I was too small / They say I couldn't play basketball I wasn't tall / They say I couldn't play baseball at all / And now everyday of my life I ball.