Monday, July 31, 2006

"condomania" cools

es scheint fast so als wenn einige nach dem jahrelangen partyrausch doch noch zu sinnen kommen (bzw. von den banken dazu gezwungen werden)

http://biz.yahoo.com/ap/060730/condos_on_hold.html?.v=6

Developers Across the Country Nix or Delay Condo Projects As Sales Slow and Costs Rise

auzüge:

From coast to coast, developers are nixing or delaying condominium projects as home sales decelerate, construction costs soar and lenders start to balk at financing units that might not sell. What's making it worse is the glut of high-priced condos and too few people who can afford them.

We've gone through the biggest real estate boom in the last eight or nine years and some of these projects haven't started yet. Do you think they're going to start building now?" said real estate executive Allan Domb, dubbed Philadelphia's "condo king."

In Las Vegas, projects nixed include high-profile developments such as Aqua Blue, a $600 million, 825-unit luxury condominium-hotel resort that counted Michael Jordan as an investor; the $3 billion, 4,400-unit Las Ramblas resort, backed by George Clooney; and Ivana Las Vegas, a $700 million, 945-unit tower named after Donald Trump's ex-wife.

In May, the volume of apartment-to-condo conversions plunged to $334 million from $1.65 billion a year ago, said Gleb Nechayev, senior economist at Torto Wheaton Research, a real estate research firm in Boston owned by CB Richard Ellis. The all-time high was $4 billion, hit last September.

The luxury condo surplus is to blame. McCabe said about 25,000 condos are under construction in Miami-Dade County, with two-thirds costing $700,000 or higher; another 25,000 units have gotten building permits and 50,000 have been announced for future construction.


das sind ausnahmsweise mal ermutigende anzeichen. nicht auszudenken wenn das bisher geplante 1:1 in die realität umgesetzt werden würde. man stelkle sich nur miami vor.........

gruß
jan-martin



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