Discussion in 'Economics' started by ByLoSellHi, Jul 31, 2009.
i would not be surprised if that was you.:eek:
I wouldn't be surprised if you took it in the ass.
The Condo King may have flipped himself upside down....The related group's Jorge Perez bit way more than he can chew this time...the icon is a monstrosity where brickell and downtown meet and its 85% vacant...peace
Perez is Bankrupt. It was official as of about 8 weeks ago.
The Icon has 1600 units, and they sold 31 units out of those 1600.
That's a harsh (but also funny) cautionary tale if ever there was one.
It seems that real estate is much more dificult to game than trading in stocks or futures. The lack of liquidity is a two-edged sword, where you can become filthy rich with little to no effort if you catch the growth periods, or endup with barely a pot-to-piss-in during the market downturns.
As always, thanks for the interesting economic posts.
You would think that they would at least rent out a few of those to just get some cash flowing in.
EL Cubano which recent brickell bldg do you think will be the place to own, i have seen some prices on the Jade, its like 50% off.
I'm just amazed that squatters haven't moved in ...
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