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Joined: Apr 2006
Posts: 520
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Us tourists really can offer little in the way of vocal concerns with local politics, developers and other corrupt groups but we do wonder just how a continuation of real dirt turning construction at South Beach is going to be financed in light of the worlds failure to provide credit even to buy a new ice box. IMHO;;; Ain't gonna happen soon.


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Joined: Nov 2006
Posts: 1,094
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Don, I think you are correct. Big new changes are cumming like a freight train. Things like they were ain't never cumming back.

Joined: Mar 2003
Posts: 1,123
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Oh please - never is a long time.


Life is not about waiting for the storm to pass, it's about learning to dance in the rain.
Joined: Apr 2006
Posts: 520
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Well,, Being 78,,at least NEVER in my lifetime.
AND; I'm going to just wait till SP condos are reduced in price 30% like in Miami. How long do you think it will take?


I'll be happy to discuss my avatar with anyone who knows what it is.
Joined: Nov 2000
Posts: 5,563
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For the last two years there have been a lot of us shaking our heads about over building here. I have a feeling we are not going to have much of a season this year.

Last edited by ScubaLdy; 10/13/08 12:47 PM.

Harriette
Take only pictures leave only bubbles
Joined: Nov 2006
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Here's part of the scam that often is overlooked, imo. The cost of these projects, big picture, is $ per sq. ft. I have no idea what that is, none. I do know at first you get a big bang for the buck and during the finish stages a lot of money is needed but often not there. The general contractor or project manager over bills for work completed per sq. ft. He pays the sub contractor little and has money left over to seed other projects. By the time it comes to the finish roads, landscaping, lighting and all the rest of detailing the money is gone.

Joined: Aug 2007
Posts: 206
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I still don't understand why more and more projects like these or "pillows" get approved, with less and less "heads" to rest upon them. There are enough unfinished timeshares/condo developments that call themselves "hotels and resorts" here. The problem is that none of these have any sort of financial cushion to help them through the tougher rental periods. They simply turn into defunct eye-sores, barely finished, if finished at all. The very few hotels/resorts that are here are not exactly bursting at the seams 24-7, 365.

Last edited by Canam; 10/13/08 12:02 PM.
Joined: Nov 2000
Posts: 5,563
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We used to hear quoted that we had a 40% vacancy rate. Now I am hearing 40% occupancy rate. Airlines are cutting back on the number of planes they are bringing in each week. I tried to book on American for December and the web site says only Thursday, Friday and Sunday.


Harriette
Take only pictures leave only bubbles
Joined: Jun 2005
Posts: 2,018
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Harriette, it appears Reef Village may have an occupancy rate of maybe 10%......looks like a ghost town to me.....of course if you have a boat it's easier to get to!


I'm happier than a pig in s__t...a foot on the sand...and a Belikin in my hand!
Joined: Aug 2005
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Occupancy at RV doesn't matter to Jeff.

His interest is in what is sold.

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