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Old 10-03-2007, 08:32 AM
 
2,313 posts, read 3,191,340 times
Reputation: 471

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In Fort Lauderdale they never stop building regardless what the market is. They tear down one thing and build another. Look at this project just approved at last nights meeting.

Fort Lauderdale OKs 42-story condo next to Stranahan House -- South Florida Sun-Sentinel.com

We have no where to drive now and the intercostal is like I-95 on the weekends if you have a boat. Most ramps you have to wait forever if you trailer your boat.

It just gets more and more unpleasant. No plan for the future at all, just build and build. Isn't there some breaking point?
How would like this thing in your back yard
25,000 shoppers expected as Ikea store opens in Sunrise -- South Florida Sun-Sentinel.com (http://www.sun-sentinel.com/business/local/sfl-flzikea1002nboct02,0,5661647.story - broken link)
Does anyone actually need all this crap they sell? I guess it will create some nice minimum wage jobs.
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Old 10-03-2007, 08:43 AM
 
Location: Fort Lauderdale, FL
518 posts, read 2,226,022 times
Reputation: 268
Quote:
Originally Posted by macguy View Post
Look at this project just approved at last nights meeting.
And who will buy all those condos? It certainly won't be the middle-class families being pushed out of the area, or the immigrants moving in. Maybe there are enough trust-fund babies out there to fill 42 stories' worth of condo units, but I doubt it.
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Old 10-03-2007, 08:48 AM
 
Location: Palm Beach, FL & Napa, CA
2,093 posts, read 5,594,567 times
Reputation: 1010
Yep, more service jobs that won't pay enough to afford the cost of living. Makes sense to me....
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Old 10-03-2007, 08:51 AM
 
Location: Florida
272 posts, read 1,531,292 times
Reputation: 159
I can't believe any place in SWFL is approving new condos. Aren't there already a gajillion empty condos down there and another gajillion about to come on the market?
I live on the panhandle and they are canceling condo projects right and left up here. Maybe the buyers will be a bunch of European expats or vacationers taking advantage of the exchange rate that is strongly in their favor.
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Old 10-03-2007, 08:52 AM
 
3,842 posts, read 10,510,708 times
Reputation: 3206
Same exact thing going on in SW FL. It is almost sickening.

Who do they expect to be moving into thousands & thousands of homes & condos (that are VERY overvalued) & more importantly, what jobs will these people be holding in order to pay everyday bills along with a mortgage.

No, there is no demand for new family homes or commercial property. There hasn't been a demand for months. Yet, they keep building.

I don't think they know what else to do, so they just build, hoping some magic event is going to happen to create a massive surge of businesses & people.

Or, they just don't care. As long as the builders get their money & the city looks like they are trying to bring in people & business, the building continues.

It is a fantastic smokescreen. Whatever.

In the city we live in, there are around 2,000 condos for sale & it's not even that big of a city...have seen very little movement into the major developments since completion.

I guess if you are going to retire here with no mortgage & then leave everything in a trust, no big loss. Other than that, this area is in dire straits due to excessive overconstruction & on going construction of needless things.

Oh, but hey, a new SuperWalMart is opening up soon along with a Bealls Outlet & need employees!!!!!!!!!!! Looks like people can afford those $300k homes now!
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Old 10-03-2007, 08:56 AM
 
3,842 posts, read 10,510,708 times
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Quote:
Originally Posted by deckardc View Post
I can't believe any place in SWFL is approving new condos. Aren't there already a gajillion empty condos down there and another gajillion about to come on the market?
I live on the panhandle and they are canceling condo projects right and left up here. Maybe the buyers will be a bunch of European expats or vacationers taking advantage of the exchange rate that is strongly in their favor.
SW FL is starting to see the gates close on half-complete projects.
Nope, approvals are still going on!
New construction permits pulled last month in Lee County were at an all time low of 63, which is the lowest since 1981.
Doesn't matter...doubt those 63 permits will do anything else than to add to the problem.
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Old 10-03-2007, 09:09 AM
 
2,313 posts, read 3,191,340 times
Reputation: 471
Quote:
Originally Posted by chisoxfan View Post
And who will buy all those condos? It certainly won't be the middle-class families being pushed out of the area, or the immigrants moving in. Maybe there are enough trust-fund babies out there to fill 42 stories' worth of condo units, but I doubt it.
This deal here has to do with the commissioner having no idea what they are doing and they now got the city into this mess. Way back they could have bought the property from the developer for, if I remember right, for like 7 million and it would have never gone any farther and everybody would be happy, we would have a nice park there. But no, instead they $crew around the developer with denials of plans making them keep coming back causing them to spend more and more money. Now the city is faced with huge law suit and having to approve something they don't want and it is all their fault. These are the people we trust and they are idiots. Britney Spears makes better decisions then our commisioners.
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Old 10-03-2007, 10:20 AM
 
Location: Heartland Florida
9,324 posts, read 26,745,539 times
Reputation: 5038
What else can they do ? South Florida has no manufacturing other than construction.
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Old 10-03-2007, 04:35 PM
 
Location: Florida
2,209 posts, read 7,655,019 times
Reputation: 638
It's not nearly as bad here as it is there. I escaped Ft Lauderdale after the sludge from Dade Cnty made it's way northward after Andrew. Went to West Boca. Crowded there now too although not like Lauderdale. Went to Wellington after that. I was by that neighborhood about 2 months ago and couldn't believe the traffic and pollution on Southern and 441.

Left the USA for a couple years, returned and am on the west coast. Dentist still in Wilton manors on 26th and I hate it when I have to go. So I stop at Skyline and have a few Coney's and a 4 way with an Ice Tea when I'm there. Yeah!

Then head down sunrise , past what looks like a 4th world country's idea of "art" just before getting on 95 S, to 595, to 75 and Bye Bye Broward.

A shame. I loved Ft Lauderdale and it was even in my will at one point to spread my ashes on Ft Lauderdale Beach.

Not now though
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Old 10-03-2007, 04:36 PM
 
Location: Florida
2,209 posts, read 7,655,019 times
Reputation: 638
Quote:
Originally Posted by tallrick View Post
What else can they do ? South Florida has no manufacturing other than construction.

Well the US doesn't have much by way of "creating" things anymore. That's one reason among many why the bubble-is-a-poppin.
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