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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (39738)	8/30/2005 11:57:02 PM
From: John Vosilla	Respond to of 306849

I think once people start thinking about Katrina and what happened from 25 ft water surges in New Orleans and 140 mph wind in Biloxi we are at great risk along much of coastal Florida with the whole southern part even far inland at risk of flooding being so low lying with the Everglades and swamp surrounding us to one side and the Ocean to the other. Most new condos completed since the beginning of the year are still vacant perhaps 70-80% everywhere I've looked. I guess a lot are flippers perhaps waiting out one year no flip clause with builders or banking on more appreciation and premium prices on new never lived in units. With so much more new supply also coming on line too I think folks might start freaking out this winter season if they can't move their units at expected prices. I would watch for a major break perhaps in early Spring but doubtful before then without some other exterior trigger event.