[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.....

[PAR35]

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

I think you pegged it. My guess is that the lender required the developer to pre-sell a certain percentage, and now that the market has softened, some of purchase contracts aren't looking too good.

[ClaireSolt]

That depends on what the building is like. They permitted one here about five years ago and then said it sold out in two and a half weeks. I am not sure it is finished, yet. The ones in Miami I have seen going up are fancy high rises.

[dalereed]

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

It sure does when the condo is a high rise.

[rebel_yell2]

Just how long do you think it takes to put up a 50-story building? Many of these south Florida condos are high-rises. My building in downtown Chicago took five years from pre-sale to occupancy.