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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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From: russwinter	7/15/2005 2:44:46 PM
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Supports my notion that applications and "contracts" are not the same as purchases. 'We're Past The Peak' In Florida thehousingbubble2.blogspot.com Hunter estimated that as many as 50 percent of the 5,000 condos being built or planned in downtown West Palm Beach are under contract to investors rather than to 'end users', people who actually intend to live there." "In Miami-Dade County, Geberer said, nearly 100 percent of all luxury oceanfront condos are under contract to investors, 'Condo units at $800,000 to $1 million don't have buyers,' he said. 'They have contracts.'" "If prices don't continue their steep ascent, allowing speculators to flip their units at a healthy profit, many investors will walk away, Geberer said.

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