Florida Condos (Miami especiallY) falling on the Black List (low income, 2009)

[portorro]

Marketplace: Florida condos falling on blacklist

[cuba libre]

Originally Posted by portorro

Marketplace: Florida condos falling on blacklist

See: Latin funny money. The building that I rent from on Brickell ave is trying to dump 230 developer owned condo units at once because the building is at risk of shutting its doors. 90% of the time I hear Spanish spoken in and around my building. Who says there's no culpability here?

[muscleman305]

Originally Posted by cuba libre

See: Latin funny money. The building that I rent from on Brickell ave is trying to dump 230 developer owned condo units at once because the building is at risk of shutting its doors. 90% of the time I hear Spanish spoken in and around my building. Who says there's no culpability here?

Obama should buy all these bankrupt brickell condos with the same chinese dollars bailing out the banks and convert them into housing projects lol that would solve the affordable housing crisis.

[JackTheRipper]

Originally Posted by cuba libre

See: Latin funny money. The building that I rent from on Brickell ave is trying to dump 230 developer owned condo units at once because the building is at risk of shutting its doors. 90% of the time I hear Spanish spoken in and around my building. Who says there's no culpability here?

Dude, if you're so sick and tired of hearing spanish, DO SOMETHING ABOUT IT!

create a movement that Spanish should be BANNED from this freaking country, stop bitching and do something about it!

[tallrick]

The problem is that Miami property owners have unrealistic expectations. Other than laundering money there is no economic engine in the Miami area to support those condo prices. Perhaps the prediction I made in 2004 will come true. WHen I saw those condos being built I said "there will be the tallest HUD projects in history".

[runswithscissors]

Originally Posted by tallrick

The problem is that Miami property owners have unrealistic expectations. Other than laundering money there is no economic engine in the Miami area to support those condo prices. Perhaps the prediction I made in 2004 will come true. WHen I saw those condos being built I said "there will be the tallest HUD projects in history".

Funny you mention that. Remember I bought my condo like a dope during the bailouts and after the election because I was pretty sure Obama was going to flood the market with low income incentives an a repeat of Fannie social engineerng AGAIN.....

What a mess.

[muscleman305]

Originally Posted by tallrick

The problem is that Miami property owners have unrealistic expectations. Other than laundering money there is no economic engine in the Miami area to support those condo prices. .

Miami is one big shiny example of fools gold. It's all perception of money and no substance here. The condo's only saviors are wealthy foreigners and snowbirds, theres not enough legitimate viable industry in this area to sustain that kind of extravegant market. Now if you include medicare fraud clinics, prescription pill/pain clinics, cocaine/extasy/gun smuggling, credit card fraud, greedy slimy politicians on the take, human smuggling legitimate industries then YES Miami would be considered a city with a strong economic engine.