Posted by tampasteph on March 23, 2006 at 09:12:39:
I spoke to a realtor recently who bought a pre-construction condo thinking he would flip it and make some quick cash. His PITI was around $1200, and it would only rent for around a grand tops. It’s been listed now for about 5 months. The price keeps dropping, and there are over 30 units for sale last time I checked. I’m guessing there are a lot of “investors” who will be in the same boat very soon, if not already.