[BurbankKarl]

Miami has 25000 condos being built

[ClaireSolt]

I am wondering if thee contracts to buy later are a type of deritive. I hear them discussing them on Cavuto. I have sold contracts for future revenues and I have experienced that risk. These people want their money back. Maybe they bought a whole floor for pennies on the dollar. The developer sold the paper to raise capital, and now someone is holding a worthless promise. I am guessing. Do you know?

My daughter lives in Miami and she says that there are still lots of New Yorkers who will buy those condos.

[Caipirabob]

Miami has 25000 condos being built

I can tell you first hand that many of these complexes are half occupancy and far, far less in many cases.

They are building a new condo complex on the corner of 441 and Broward Blvd with units from 250K up. This is right next to one of the worst neighborhoods in SoFlo North of Miami. 250K is what an entire neighborhood yields here in a year of welfare checks. We regularly find spent bullets and casings in the area (I have to go there from time to time.)

I can't even imagine what the builders were thinking when they decided to construct them.