SoFla Real Estate News (2/09 - 5/09)

• Homeowners Turn to Renting, Waiting for Market to Recover (Renters rejoice! Rental prices are about to plummet along with home prices) (05/13/09)

• Onyx Condo Project Faces Foreclosure (05/13/09)

• Foreclosure looms for European Club (05/13/09)

• Miami home sales increase by 72%; median condo sales price drops 47 percent from a year ago (05/13/09)

• Florida home sales up 25% (05/13/09)

• Vultures eye the dying Corus (Condos-R-Us) Bank; hoping to pay bottom dollar (05/13/09)

• Seniors Are Building Jewish Life out West (and avoiding Miami) (05/13/09)

• Condos at Risk During Storm Season (05/12/09)

• 
  “Ocean Bank continues racking up foreclosure judgments against developers, including a stalled town home development in northern Miami-Dade County and a Hallandale Beach condo conversion” (05/12/09)

• 
  Onyx on the Bay units face foreclosure (05/11/09)

• 
  Keepin’ It Real Estate: Subprime Lending Is Back With a Vengeance (You, the taxpayer, is the patsy paying for this program) (05/11/09)

• 
  Despite Signs to the Contrary, Real Estate Will Get Worse (05/11/09)

• Dade woman kills herself in part because she was underwater on her condo’s mortgage (05/10/09)

• “Many Florida banks are in worse shape than their troubled U.S. counterparts because of the state’s real-estate-based economy” (05/08/09)

• Miami crime map (be sure to zoom in on your area of interest - a must see!) (05/08/09)

• Hollywood condo ranks No.1 in foreclosures (05/08/09)

• In South Florida, most people who bought homes during boom are underwater (05/07/09)

• Home values plunge up to 30 percent in Clearwater coastal areas (05/07/09)

• Jorge Perez and the Related Group allegedly using stall tactics in court to delay the return of millions in deposits (05/07/09)

• Family flees million dollar home due to Chinese drywall (05/06/09)

• WSJ: 20% of Homeowners Underwater (05/06/09)

• 2002 Flashback: Home-Buying Up Among Lame-O’s (05/06/09)

• BankUnited’s fate unclear as shareholders wait (05/06/09)

• Mercantil Commercebank seeks foreclosure on Palm Beach condo (05/06/09)

• Home prices vs income by metro area (great graphs) (05/06/09)

• The high end is going to get flattened (article is not about Miami, but the same stuff went down here) (05/06/09)

• S. Fla. home construction all but stopped (05/05/09)

• Looks like another bad year for condo owners: “Measures afloat to increase the amount of overdue association fees lenders would be required to pay on units mired in foreclosure went nowhere as lawmakers focused on cutting spending and balancing the budget in the economic downturn” (05/05/09)

• Flop this house - Risky business (05/04/09)

• Rent-to-own leases WITH no down payment and a clause to renegotiate the price at the end of the lease may be the way to go [Make sure you retain a good real estate lawyer to review the contract; I've heard that Jared Beck is good] (05/04/09)

• Builders constructing multimillion dollar homes in anticipation of housing upturn (More supply sounds great to me!) [Hat tip Juan D.] (05/04/09)

• Use caution when condo shopping (05/03/09)

• Even though there are 30% fewer millionaires and billionaires, high end destinations aren’t hurting…. (yeah, right!) (05/03/09)

• Corus (Condos-R-Us) Bank warns that it may fail (change the word “may” to “will”) (05/02/09)

• Ritzy Fisher Island has 6 properties with asking price down 57% on average (05/02/09)

• Miami Beach Dodges a Cold Front (While prices will stay very high, percentage-wise they will drop just as much as Miami) (05/02/09)

• Analysis: Miami Mayhem the worst is yet to come (05/01/09)

• Free cars, deep discounts, and other gimmicks for condo buyers (05/01/09)

• Two residential projects in South Florida that were financed by Miami-based Ocean Bank are up for public foreclosure sale (05/01/09)

• Couple STILL trying to unload underwater condo with raffle in the name of “charity” (see news archive) (05/01/09)

• Miami condo glut briefly mentioned in banking industry paper (05/01/09)

• “The developer of the Sail Condo on Brickell in Miami faces a foreclosure action from Coconut Grove Bank that targets some of the unsold units” (04/30/09)

• Legislators make last ditch effort to assist condo owners by forcing banks to pay back maintenance fees (04/30/09)

• Case-Shiller: Tampa Bay home prices flee to 2003 (04/29/09)

• Miami Becoming A Renter’s Paradise (04/28/09)

• South Florida’s Soffer family proves the old Chinese saying that wealth does not pass three generations [富不过三代 (fu bu guo san dai) ](04/28/09)

• Recession, Far From Over, Already Setting Records (04/28/09)

• Bulletin From the Hindenburg: A Housing Crash Update (Everything the Pollyannas aren’t telling you) (04/27/09)

• “Miramar-based Eastern Financial Florida Credit Union, crippled by bad real estate loans and losses on exotic securities, was seized by regulators Friday” (04/27/09)

• America’s Most Dangerous Cities (Miami is 3rd most dangerous) [Hat tip Dr. J.W.] (04/25/09)

• Fontainebleau in Las Vegas gets desperate (04/25/09)

• Study: 60% of new downtown Miami condos investor-owned (What this so called study fails to mention is that these ‘investors’ didn’t purchase to be end users or for personal enjoyment. They purchased to make a quick buck flipping these things. I liken this to internet stocks with no business model. Eventually the venture capital dries up, as will ‘investor’ interest in Miami) (04/25/09)

• Report: Fla. ranks No. 3 for financially distressed projects (04/25/09)

• Time to Get Rich Quick (Again) (04/24/09)

• Banks lobbying in Florida to avoid payment for abandoned home maintenance (04/24/09)

• Florida real estate: Life among the toxic assets (04/24/09)

• Keepin’ It Real Estate: Beware The False Bottom in Housing (04/24/09)

• South Florida housing market remains conflicted: Sales soaring but prices plunging (04/24/09)

• Florida’s existing-home market: Sales still improving, prices still falling (04/24/09)

• FAR: Home and condo sales up, prices crash (04/24/09)

• “Primer Impacto” host selling Miami Beach 2BD at a loss (04/24/09)

• Despite spring breakers, South Florida hotels have dismal March (04/23/09)

• NW Dade Condo Complex Strikes Deal to Get Lights Back On (with video in the upper right hand corner) (04/23/09)

• As soon as the market rebounds, more supply is planned (04/23/09)

• New York Times: “In Miami, Goldman [Sachs] forecasts, prices could drop an additional 33 percent, which is pretty amazing since they’ve already fallen 50 percent from their 2006 peak.” (04/22/09)

• Shares of Miami-based Lennar get pounded on Monday (04/22/09)

• Dad who killed family, self was $460K in debt, unable to sell second [investment?] home in Florida (04/21/09)

• Renting still much cheaper than owning therefore prices have much further to fall (04/21/09)

• More American Workers Outsourcing Own Jobs Overseas (04/21/09)

• Why housing is not coming back (04/21/09)

• Trying to sell your house? The Miami Herald would like to help you with this dumb article (04/20/09)

• Lake County, FL foreclosure filings hit record in March (04/20/09)

• Miami Dade homeowners can expect higher taxes this year despite price crash (Ridiculous!) (04/19/09)

• Bulk condo buyer undercuts competing rentals (Without enough rental income, those trying to ride out the price collapse by renting out their properties will be forced into distressed sales) (04/19/09)

• “There’s absolutely and positively a lot of foreclosure inventory that’s being held off the market” (Once the law changes so that banks are responsible for more than 6 months of HOA fees the firesale will commence) (04/19/09)

• Florida’s largest bank BankUnited has 20 days of life support (04/17/09)

• Who would be hit by proposed government fee hikes? EVERYONE [Hat tip Wild Bill] (04/17/09)

• Ft Lauderdale may lose condo ombudsman even though government assesses $4/condo unit/year fee for the service (government theft at its finest)(04/17/09)

• Water turned back on at NW Dade condo (with video) (04/17/09)

• Good old Jorge Perez must be paying big bucks for this J. Lo Story (04/17/09)

• County shuts off water at 310 unit condo after check for $42K bounces (These condos might eventually be worth less than $0) (04/16/09)

• The reason for the Miami Dade foreclosure explosion (04/16/09)

• A Modest Proposal for Reducing the Indebtedness of the United States, and For Making the Burdens of the Unites States Beneficial to the World: So Long, Florida! (Numbers are off but funny nonetheless) (04/16/09)

• Miami Parking Authority halts plans on $14 million mixed-use garage complex (04/16/09)

• Treasury Department Issues Emergency Recall Of All US Dollars (04/16/09)

• J Lo. supposedly considering buying multiple units at Icon Brickell (If this isn’t a complete plant/lie then J. Lo is a fucking r-tard) (04/16/09)

• Seattle has its own condo troubles (04/16/09)

• Condo residents can’t use public dump (04/16/09)

• Another wave of foreclosures in the pipeline (To avoid subscribing: 1. After clicking the link, copy the article title 2. Paste this into google search and hit search 3. Click the article in the results) [Hat tip bubbleRefuge] (04/15/09)

• Aventura real estate developer charged with strangling his wife (04/15/09)

• 
  UC Berkley economist: New York and Florida home prices to fall another 15% (middle of the article) [Hat tip Dr. J.W.] (04/15/09)

• 
  S. Fla. positive real estate spin on the rise (04/15/09)

• 
  U.S. Century Bank seeks foreclosure on Boynton Beach site (04/15/09)

• 
  “People were keeping a pretty firm hand on their wallets” at a recent Miami Beach Convention Center foreclosure auction (04/15/09)

• 
  Foreclosure activity in major cities (04/15/09)

• 
  The New Condo Reality (What Wild Bill has been saying all along)
  (04/14/09)

• 
  Could condo prices fall to zero?
  (04/14/09)

• 
  Foreclosures Rise in Brevard County, FL
  (04/14/09)

• 
  Federal Reserve Study: Mortgage Changes May Not Stem Foreclosures (Their solution? Government loans to help people pay their government mortgages [loans]!!!! Your tax dollars at work)
  (04/14/09)

• 
  Bankruptcies surge despite law meant to curb them (Hat tip F W)
  (04/14/09)

• 
  Miami tourism bubble pops; luxury hotels feeling the pain
  (04/13/09)

• 
  New York Times: Chinese Drywall Poses Potential Risks
  (04/13/09)

• 
  Miami Herald: Chinese drywall scare hits South Florida, nation (Chinese drywall story blows up!)
  (04/13/09)

• 
  Mish on Chinese drywall
  (04/13/09)

• 
  Complete idiot buyers prove what I have always said: the availability of easy money drives prices up; people are willing to drastically overpay as long as govt provides the loan with a monthly payment they can afford
  (04/13/09)

• 
  iStar FM Loans wins $49M foreclosure action for Marina Grande North Miami Beach condo
  (04/11/09)

• 
  Coral Gables office/retail project hit with foreclosure lawsuit
  (04/11/09)

• 
  Report: South Florida foreclosures up 33% (More Zalewski spin)
  (04/11/09)

• 
  Author who predicted crisis sees inflation ahead
  (Roubini is saying 2011. Hopefully we have that long)
  (04/10/09)

• 
  Universal Orlando faces cash squeeze
  (04/10/09)

• 
  CNN puts positive spin (bordering on propaganda) on Miami condo market (the irony is that the lead character that the story develops isn’t even an end user, just another flipper in a market nowhere near bottom) [Hat tip F W]
  (04/10/09)

• 
  Bank lending blacklist leading to Miami condo price collapse
  (04/10/09)

• Idiotic Mondrian South Beach “semi-automatic” demonstrates the extent of tourism bubble and malinvestment
  (04/10/09)

• 
  Member of Destiny’s Child loses Miami condo
  (04/10/09)

• 
  South Florida hotels see no bottom in tourism decline
  (04/09/09)

• 
  Why home prices may never recover (my thoughts: baby boomers retiring broke = big multilevel houses sold for food and medicine)
  (04/09/09)

• 
  South Florida Braces for Ripple Effect as Recession Hits Latin America (article draws the wrong conclusion about condo purchases - they will plummet)
  (04/09/09)

• 
  Landlords See a Jump in Vacancy Rates Even as Rents Drop [TO AVOID SUBSCRIBING: COPY AND PASTE ARTICLE TITLE, GOOGLE SEARCH IT, THEN CLICK RESULT]
  (04/08/09)

• 
  13 out of 17 Corus (Condos-R-Us) condo and apartment construction loans with a value of $1.11 billion were nonaccrual by the end of 2008; Two more loans valued at a total of $55 million were classified as potential problem loans (04/08/09)

• 
  The American Suburb Is Bouncing Back (The reason? Most people prefer the space of a single family home vs. being packed into a multi story sardine can) (04/08/09)

• 
  Meredith Whitney: House Prices to Fall Another 30% (04/07/09)

• 
  Waterfront site in Hallandale Beach set for foreclosure sale (04/07/09)

• 
  Foreclosure sought against 164 unsold condos in Greenacres (04/07/09)

• 
  WSJ: Seattle, Miami Foreclosures Hit Two-Year High - Report [TO AVOID SUBSCRIBING, COPY AND PASTE ARTICLE TITLE AND GOOGLE SEARCH IT, THEN CLICK RESULT]
  (04/06/09)

• 
  Freddie Mac Economist: Housing, Mortgage Markets Remain Bleak
  (04/06/09)

• 
  Failure Rate Rises on Mortgages Revised in Late 2008, U.S. Says (04/06/09)

• 
  Vacationers saving money by visiting Florida but avoiding Miami and Fort Lauderdale
  (04/06/09)

• 
  SoFla Family upside down in house with bad drywall
  (04/03/09)

• 
  Forbes: Renting is the new buying
  (04/03/09)

• 
  U.S. seen facing danger of 2nd recession next year
  (04/03/09)

• 
  Members of condo board accused of fraud
  (04/03/09)

• 
  City commission gives go ahead to Hollywood, FL condo behemoth; more supply is great for buyers!
  (04/03/09)

• 
  U.S. property bust threatens condo “death spiral”
  (04/03/09)

• 
  Home Prices: Low, But Still No Bargain
  (04/02/09)

• 
  Falling Home Prices: New Housing Nightmare
  (04/02/09)

• 
  Boats Too Costly to Keep Are Littering Coastlines
  (04/02/09)

• 
  The Only Way Out Of This Crisis Is To Build More Houses
  (04/02/09)

• Phyllis Apple, the 86-year-old publicist who helped spread the word of South Florida’s condo boom, will shut down her agency and retire (04/02/09)

• Miami bulk deals to happen in the future, prices currently still too high; condo inventory much larger than estimated (04/01/09)

• Downtown Miami lacks curb appeal (04/01/09)

• Economy be damned, bankrupt development group charges forward with 25-story Hollywood, FL colossus currently known as Block 55 (04/01/09)

• Miami-based Lennar Hurting (03/31/09)

• Record drop in home price index (03/31/09)

• Overpay by greater than $50,000 on average now, get $8,000 tax credit (03/31/09)

• Luxury Homes Are Lingering on the Market (03/31/09)

• One story that conveys how truly fucked we are: IBM Files Patent for System that Calculates How to Offshore Jobs While Maximizing Tax Breaks (03/31/09)

• These are the supposed saviors of Florida real estate? Senior citizen bankruptcies skyrocket. (03/30/09)

• Anything designated condominium not eligible for FHA refinancing (03/30/09)

• Naples condo owner wins noise suit against neighbors after 3 years and $20,000 in legal fees. Still want to live in a condo? (03/30/09)

• What Can $150k Buy in Real Estate Around the World? (Do some investigation, google “luxury Spanish villas”; this is why Miami real estate is still not a compelling bargain) (03/30/09)

• Better investment opportunities abroad (1 Israeli shekel = 0.237 U.S. dollars) (03/30/09)

• Toronto’s Condo King sounds a lot like Miami’s Condo King Perez: “It’s not just about the money!” (03/30/09)

• Tampa Bay (and the rest of Florida) could see summer surge in foreclosures (03/29/09)

• Disaster: Homestead, Fla., hit by foreclosures (03/29/09)

• A story of 4 homedebtors; one from Miami (03/29/09)

• Kendall Commons project faces foreclosure (03/28/09)

• Rocker Lenny Kravitz trying to unload his Miami Beach pad (03/28/09)

• Coral Gables-based Tamach Group faces fourth foreclosure lawsuit since December (03/28/09)

• Broward County cuts off water to townhouse community -
  $8,100 owed to Broward; 60 percent of owners delinquent on fees (03/28/09)

• Florida jobless rate hits 9.4 percent, highest since 1976 (03/28/09)

• The global housing market goes from bad to worse (03/27/09)

• Miamicondoforum.com 2009 Realtor® of Genius Awardⓒ goes to Orange County, California Realtor® (03/26/09)

• Condo sales decline in the Sarasota-Bradenton market last month (03/26/09)

• Florida condo fraud rampant, proposed bill to create “condo cops” (News flash from 2 years in the future: “Condo cops defraud condo association for millions”) (03/26/09)

• Realtors® convinced that the bottom is in, economic experts disagree (03/26/09)

• Real estate bust has them filing into bankruptcy hearings (03/26/09)

• Hollywood, FL based homebuilder TOUSA to lay off 200, will stop building new homes (03/26/09)

• Miami ‘condo king’ hit by boom-to-bust downturn (03/25/09)

• Bottom callers rejoice! South Florida existing single-family home sales increase, prices crash (03/25/09)

• Florida sues Miami’s Lincoln Lending over mortgage fees (03/25/09)

• Analysis: Marlins Stadium CRE Impact Uncertain (03/25/09)

• More bad news for Related Group (03/25/09)

• “South Florida, ground zero for overbuilt condominums” (03/24/09)

• Happy days are here again! SoFla housing inventory “evaporating” ( meanwhile in reality land, 20% of SoFla homedebtors are NOT paying their mortgage ) (03/24/09)

• Median Miami-Dade condo prices collapse 50% yoy! (03/24/09)

• Wachovia files foreclosures in Homestead, West Palm Beach (03/24/09)

• Coral Gables’ Verona Park faces foreclosure (03/24/09)

• Palm Beach County home sales up 33% as prices fall 34% from ‘08 (03/24/09)

• Bank sues appraisers and attorneys, alleging fraud in flipping condos (03/23/09)

• South of Fifth offers ‘free’ Lamborghini to anyone stupid enough to overpay by millions of dollars (03/21/09)

• Fannie Mae’s new condo loan guidelines cause fear, frustration in markets coast to coast (but mainly in Miami) (03/21/09)

• Chinese-made drywall ruining homes, owners say (03/21/09)

• South Florida churches are better land investors than most! Ah, irony… (03/21/09)

• Fontainebleau’s Las Vegas project in the crapper (03/21/09)

• Colonial Bank files three foreclosures against South Florida developers (03/21/09)

• In Pictures: Worst Cities For New Jobs This Spring (03/19/09)

• Moody’s may Downgrade $241 Billion in Prime Jumbo Securities (03/19/09)

• Congratulations Matchers, happy best (or worst) day of your life! (03/19/09)

• Yet another luxury hotel catastrophe: The Regent Bal Harbour (03/19/09)

• Axis on Brickell wins loan extension (03/19/09)

• Miami Herald: “Epic and Viceroy’s timing probably could not be worse” (03/19/09)

• Slideshow: states with the highest foreclosure rates (Florida #4) (03/18/09)

• Miami Beach experiencing huge spring break tourism slump (03/18/09)

• West Palm Beach condo developer trying to unload failed project onto taxpayers (03/18/09)

• More on the Midtown Miami slump (03/18/09)

• Midtown Miami project is a megaflop! (03/18/09)

• BankUnited, Florida’s largest bank, rumored to soon be kaput (3/17/09)

• Florida loses its mortgage fraud title, now ranks #2 (03/17/09)

• Luxury condos aren’t selling anywhere (03/16/09)

• South Florida cities act to prevent blight in foreclosed homes (03/16/09)

• The massive number of Miami Dade foreclosures have become a target for vandals, an eyesore (03/14/09)

• South Florida developer Jorge Perez drops off Forbes billionaires list, 30% less billionaires worldwide (03/13/09)

• All cash buyers buyers chase CHEAP properties (this is how the pros operate) (03/13/09)

• S&P: Delinquencies Surge for HELOCs and Jumbo Prime Loans (03/13/09)

• Foreclosures leap in Manatee County, FL (03/13/09)

• Palm Beach County foreclosures see 50% jump (03/13/09)

• Less-visible provisions may hurt unit owners (03/13/09)

• 27% less paper millionaires in the U.S. (03/12/09)

• The Simpsons - After too many years of financing Homer’s annual Mardi Gras party on home equity loans, Homer and Marge’s adjustable-rate mortgage skyrockets. (03/12/09)

• Downtown West Palm Beach condo projects having tough time getting depositors to close (03/12/09)

• Despite glut, home builders keep building (home builders are like sharks, they have to keep moving to survive) (03/12/09)

• When condo becomes de facto rental building, resale values take a huge hit (03/12/09)

• New York Times on Icon Brickell: Miami Condo Colossus Is Monument to Excess [Hat tip Ralph A.] (03/12/09)

• More details on the Chinese drywall controversy: up to 30,000 Florida homes may be affected! [Hat tip Dr. J.W.] (03/12/09)

• Florida property tax hikes more permanent than house prices (03/11/09)

• Carpocalypse: Seven Of Twenty Lamborghini Reventons Up For Sale On Same Website! (One is located in Florida - still think the international super-rich are going to bail out Miami real estate?) (03/11/09)

• Florida’s Brevard County: Two out of three foreclosures are house flippers (03/11/09)

• South Florida’s Hovnanian posts huge loss amid plunging home sales, owes $100 million in debt due in 2010 (they’re f*cked) (03/11/09)

• Miami and Dade County are “incredibly overbuilt” (03/11/09)

• South Florida pain doctor lists dumpy condo, must be borderline retarded (03/11/09)

• 5 Reasons Renting STILL Beats Buying (03/10/09)

• S&P Puts $552.8 billion Alt-A Mortgage Backed Securities on Downgrade Watch (03/10/09)

• Majority of South Florida doctors feeling the recession in their pocketbooks (25% of Miami luxury condos purchased by doctors) (03/10/09)

• Surprise, surprise: Miami megaproject funding based on rosy property tax projections, may not get funded (or they might just severely jack up property taxes on current homeowners) (03/10/09)

• Cruise industry getting slammed (03/10/09)

• Creative way to unload your condo liability - auction it off for charity (03/10/09)

• ‘AIG Effect:’ Miami luxury hotel traffic evaporating (03/10/09)

• When house prices stabilize, well that’s when the real housing crash gets started (03/09/09)

• Roubini: Recession WORSENING, to last until December 2010 (that means we aren’t even half way through!!!!)(03/09/09)

• Even after price declines, Miami is the 6th least affordable housing market (see chart on the right): more pain to come (03/09/09)

• Excellent op-ed in favor of banks paying delinquent HOA fees (03/09/09)

• U.S. economy about to get pulverized: $50/barrel oil and higher is coming (low gas and energy prices are the only thing keeping the U.S. from falling off the precipice) (03/09/09)

• Your tax dollars (NB: tax dollars = hours/days/years of your life spent at work that you will NEVER get back) at work (03/08/09)

• Central Florida Foreclosure Rates Triple (03/08/09)

• Many of the vacant homes in the U.S. concentrated in Florida (03/08/09)

• Florida’s unemployment rate the highest in 17 years (03/08/09)

• Florida unemployment rocketing: hits 8.6% (03/06/09)

• More on the SoFla Chinese drywall issue (03/06/09)

• Florida price collapse coming: 1 in 5 Florida mortgage holders behind on payments (03/06/09)

• Bankrupt Miami broker Carlos Justo owes IRS $6.5 million (03/06/09)

• Price collapse coming: one in 8 U.S. households late paying or in foreclosure (03/05/09)

• Obama plan does nothing for Florida, California, or Arizona homedebtors [Hat tip Ralph A.] (03/05/09)

• Celebrity broker Justo files for bankruptcy (03/05/09)

• Here comes the commercial real estate crash (03/05/09)

• Tampa sellers struggle with housing market (03/04/09)

• Fla. county may declare itself disaster area (03/04/09)

• Homedebtors raffle off their Miami Beach burden for charity (smart way to get out of a mortgage without ruining your credit) (03/04/09)

• South Florida: The State Of Business (03/04/09)

• Fla. ranks No. 1 in mortgage delinquency (03/04/09)

• Local idiot Realtor® wants YOU to pay HIM $300 to ride around on a bus so that he can pitch you real estate! By my estimates, he’s also making hundreds of $$$ per person on the hotel and food accommodations. There’s a sucker born every minute! (go to busrates.com and type in 33130 zip code [Miami] and see that a charter bus costs less than $15/person/day) (03/03/09)

• Florida leads the nation with a 9.52% mortgage delinquency rate (just wait until the banks really start foreclosing on those people) (03/03/09)

• Uncompleted NoBe Bay hit by foreclosure action in the fourth such measure against the Merco Group (03/03/09)

• Wachovia Bank files foreclosure against 34 unsold units in the 3030 Aventura condominium (03/03/09)

• U.S. stocks stumble to new multi-year lows, housing is next (”sticky prices” = slow motion crash) (03/02/09)

• ReallyFuckedHomeowner.com (03/02/09)

• How the economic crash may reshape the U.S. (03/02/09)

• Pepsico, IBM, France, Clorox now more creditworthy than U.S. Govt. Got gold? (03/02/09)

• Personal Bankruptcies in South Florida skyrocket (03/02/09)

• Yet another 3 people shot in midtown Miami aka Pace Park aka Park West aka Miami Arts District aka the ghetto (03/02/09)

• Renters now wealthier than homeowners (03/02/09)

• Condo HOA fee collection and bulk contract laws eyed by Florida legislature (03/02/09)

• Miami condo loss not tax deductible (Question #3) (03/01/09)

• Jorge Perez and Related Group have got some serious problems (03/01/09)

• Cardiologist overpays big time for Jade condo purchased in December (If you look at recent comps he’s now underwater) (02/28/09)

• More on the Related Group/Trump Tower forged contract signature allegations (02/28/09)

• 5,000-7,000 desperate South Floridians swarm to Broward job fair (02/27/09)

• Q4 GDP revised downward to - 6.2% vs. -3.8% originally. (WTF, that’s a big revision!) [TO AVOID SUBSCRIBING, COPY AND PASTE ARTICLE TITLE AND GOOGLE SEARCH IT, THEN CLICK RESULT] (02/27/09)

• Man purchases overpriced St. Petersburg condo, will soon regret his actions (02/27/09)

• Lawsuit Against Related Group Alleges Forged Signatures (02/27/09)

• And Do I Hear $2 Million? No? $1 Million? Sold! (02/27/09)

• Mass layoffs on the rise nationally, in South Florida (02/26/09)

• Fannie Mae and Freddie Mac tacking on “delivery fee” for mortgages backed by condos with less than a 25% down payment nationwide (In regards to the rest of the article, just wait until the all cash buyers run out of ammo - as they have in other cities where sales are dropping - the free fall thereafter will be insane) [TO AVOID SUBSCRIBING, COPY AND PASTE ARTICLE TITLE AND GOOGLE SEARCH IT, THEN CLICK RESULT] (02/25/09)

• Miami-Dade: Median condo price plunges 48% yoy, median single family homes down 38% yoy (02/25/09)

• Increased sales leading to nationwide housing recovery? NOPE! Existing-home sales drop 5.3% yoy to 12-year low! (02/25/09)

• Second wave of knife catchers swallowed up by meat grinder…(02/25/09)

• South Florida tourism slump worsens even though BCS championship game was hosted (02/25/09)

• Hamptons rental market slow (read article, consider the implications for Miami) (02/25/09)

• Orlando feeling the pain (02/24/09)

• Jewish Week: Thanks to the recession, Miami Beach once again a great destination for Jews on a budget. !אַ גליקלעכע ריַיַזע For gezunterhait! (02/24/09)

• Shiller Interview: House Prices Still Way Too High (Summary: house prices are still only halfway back down to fair value, prices don’t usually stop at fair value, Obama’s plan won’t turn house prices around) (02/24/09)

• Another record home price drop in 20 U.S. cities (02/24/09)

• More on the Lee County ‘Rocket Docket’ (pay attention to what the lady who is $220,000 upside down on her $300,000 mortgage says and does vs. the man who is much less upside down and has basic reasoning and logic skills) (02/24/09)

• A brief history of the financial house of cards you live in (Miami Condo Forum.com solution: cut military spending by 85%) (02/23/09)

• S&P 500: Time to party like it’s Nineteen Ninety Seven. (02/23/09)

• DOW JONES INDUSTRIAL AVERAGE: FULL RETRACEMENT TO 1997 LEVELS ACCOMPLISHED. HOUSING IS NEXT. (02/23/09)

• Master becomes slave! (02/23/09)

• U.S. goes groveling on hands and knees for Chinese money. China obliges for now (while they build up their domestic economy, but when the moment is right and U.S. industry has been completely gutted….welcome to the third world U.S. citizens) (02/23/09)

• South Miami development plan could get pulled (02/22/09)

• Rents falling across the country, increased downward pressure on home prices (02/22/09)

• New York Times book review: “Fool’s Paradise”: “…just because a place is shallow, corrupt and infested with phonies doesn’t mean it’s dull.” (02/22/09)

• Florida’s BankAtlantic has money troubles (02/21/09)

• Mob of thousands waiting for Section 8 (subsidized housing) applications descends into chaos (LOOK AT THE PHOTOS! This is the closest thing SoFla has to luxury condo demand) (02/21/09)

• Rick Santelli - American Patriot (He is no hypocrite. He has attacked the Republicans and GWB with equal ferocity on multiple occasions) (02/21/09)

• Jorge Perez and Related Group under pressure (02/21/09)

• Jumbo Loan Defaults Rise at Fast Pace as Rich Suffer; Miami millionaire demands bailout because he’s “in bailout mode”. (02/20/09)

• Homeowner Affordability and Stability Plan: California and Florida you are Financially on Your Own [slow server, takes a while to load] (02/20/09)

• Gold tops $1,000 for first time in nearly a year (but the real key is the gold to Dow Jones ratio closing in on 1:1 for the first time since the 1960s) (02/20/09)

• How can we stop government debt-mongering? (02/20/09)

• Why Obama’s Homedebtor Rescue Is Bound to Fail (02/20/09)

• St. Regis Bal Harbour Well Under Way to Financial Catastrophe (02/20/09)

• Closing rate for six recently completed downtown Miami towers is 2%! Eleven more towers scheduled to begin closings this year! (02/20/09)

• Corus (Condos-R-Us) Bank’s regulatory agreements could spell trouble for Florida condos (02/19/09)

• New York Times: South Florida housing effectively left out of Obama ‘free money for idiots’ plan - no second homes allowed, no homes with LTVs of greater than 105% (Miami-Ft. Lauderdale Metro Unit housing down 40% from peak), no principal reductions mandated (02/19/09)