Yeah, Right! Miami Condo Glut Pushes Florida's Economy to Brink of Recession By Bob Ivry http://quote.bloomberg.com/apps/news?pid=20670001&refer=&sid=a4qa.rYTWyYA
Fuck, now I would really like to remember who were the dumb fucks lecturing me about how there will never be a shortage of housing in Miami and how the people waiting for Castro to die will buy up all the real estate. Fucking idiots.
``Have you been to Miami lately?'' Florida Governor Charlie Crist said at a homebuilders' conference last week in Orlando. ``It's like we have a new state bird: the building crane.''
``Have you been to Miami lately?'' Florida Governor Charlie Crist said at a homebuilders' conference last week in Orlando. ``It's like we have a new state bird: the building crane.'' as far as the eye can see.... its pretty amazing...the only ones making money are the crane operators...
http://elitetrader.com/vb/showthread.php?s=&threadid=90022&highlight=miami Thank you Pab(s)t Prime for stepping forward and admitting you don't know what the fuck you were talking about. You can just read this message after you've actually stepped forward and said how wrong you were.
About 10-20 minutes from where I am LUXURY CONDOS continue to go up at a record pace. It does not stop, you would think these fools would learn already that there is a GLUT of housing on the market and that building the way they are is only going to continue knocking down prices. There is no bottom until 2010 the earliest. Also I think the housing stocks could fall another 20-30% and thats after I made the prediciton 6-8 months ago that they were going to fall 25%.