[bruinbirdman]

"(Those with deposits can't get mortgages)"

And they won't get their deposits back, either.

yitbos

[Flavius]

what a wonderful opportunity to buy 30-40c on a dollar

[Dianna]

While a single-family home builder generally constructs units as orders come in, a condo developer builds all at once and hopes for the best, adding risk.

Buying in two or three years ago...things change. Sorry.

[goodnesswins]

"The problems are emerging as some buyers who signed contracts to buy new condos two to three years ago, when construction was just starting,...."

WHAT? It does NOT take 2-3 years to build a Condo....this is pure bull.....

[Freedom_Is_Not_Free]

We are not losing condos, we are gaining apartments. ;-)

[SuziQ]

I remember this happening years ago on Perdido Key, in Florida. The condos that had been abandoned by their builders, were picked up after that dive, and finished a couple of years later. As of just a couple of years ago, they were selling for about 5 times what folks paid for them for back then. Not too bad an investment, I must say. I just wish we could have afforded one back then!

[goldstategop]

My condo is in a prime location, so I'm not worried the new building next to mine won't be occupied. For some people, its perfect. Others may prefer a single family home.

"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus