SD Condo article in LA Times

[desmond]

http://www.latimes.com/news/la-fi-condobust27-2009jul27,0,2522442.story?track=rss

[4plexowner]

San Diego high-rise condo market goes from frenzy to fizzle

http://www.latimes.com/business/la-fi-condobust27-2009jul27,0,881890.story?page=1

“From 2001 through 2008, more than 8,000 condominium units were built in downtown San Diego. That’s double the number of downtown units constructed over the same period in Los Angeles, a city three times its size. So while sales of urban high-rise units are convulsing elsewhere, nowhere is the collapse more dramatic than in downtown San Diego.”

~

the article even talks about the naked guy

[4plexowner]

San Diego high-rise condo market goes from frenzy to fizzle

http://www.latimes.com/business/la-fi-condobust27-2009jul27,0,881890.story?page=1

“From 2001 through 2008, more than 8,000 condominium units were built in downtown San Diego. That’s double the number of downtown units constructed over the same period in Los Angeles, a city three times its size. So while sales of urban high-rise units are convulsing elsewhere, nowhere is the collapse more dramatic than in downtown San Diego.”

~

the article even talks about the naked guy

[4plexowner]

San Diego high-rise condo market goes from frenzy to fizzle

http://www.latimes.com/business/la-fi-condobust27-2009jul27,0,881890.story?page=1

“From 2001 through 2008, more than 8,000 condominium units were built in downtown San Diego. That’s double the number of downtown units constructed over the same period in Los Angeles, a city three times its size. So while sales of urban high-rise units are convulsing elsewhere, nowhere is the collapse more dramatic than in downtown San Diego.”

~

the article even talks about the naked guy

[4plexowner]

San Diego high-rise condo market goes from frenzy to fizzle

http://www.latimes.com/business/la-fi-condobust27-2009jul27,0,881890.story?page=1

“From 2001 through 2008, more than 8,000 condominium units were built in downtown San Diego. That’s double the number of downtown units constructed over the same period in Los Angeles, a city three times its size. So while sales of urban high-rise units are convulsing elsewhere, nowhere is the collapse more dramatic than in downtown San Diego.”

~

the article even talks about the naked guy

[4plexowner]

San Diego high-rise condo market goes from frenzy to fizzle

http://www.latimes.com/business/la-fi-condobust27-2009jul27,0,881890.story?page=1

“From 2001 through 2008, more than 8,000 condominium units were built in downtown San Diego. That’s double the number of downtown units constructed over the same period in Los Angeles, a city three times its size. So while sales of urban high-rise units are convulsing elsewhere, nowhere is the collapse more dramatic than in downtown San Diego.”

~

the article even talks about the naked guy

[desmond]

Here’s a quote from the article:

“Maybe some of my friends will be able to live there instead of having to go to Tijuana or Temecula,” he said.

What a low blow to Tijuana.

[desmond]

Here’s a quote from the article:

“Maybe some of my friends will be able to live there instead of having to go to Tijuana or Temecula,” he said.

What a low blow to Tijuana.

[desmond]

Here’s a quote from the article:

“Maybe some of my friends will be able to live there instead of having to go to Tijuana or Temecula,” he said.

What a low blow to Tijuana.

[desmond]

Here’s a quote from the article:

“Maybe some of my friends will be able to live there instead of having to go to Tijuana or Temecula,” he said.

What a low blow to Tijuana.

[desmond]

Here’s a quote from the article:

“Maybe some of my friends will be able to live there instead of having to go to Tijuana or Temecula,” he said.

What a low blow to Tijuana.

[4plexowner]

“About 400 new and occupied ones are listed for sale, and more than 450 are in some stage of foreclosure and will eventually be put on the market. An additional 1,000 units that were under construction when the market soured are slated to be completed this year, adding to the glut and putting further downward pressure on prices.

So far this year, 159 new homes have been sold downtown, according to DataQuick. At that pace, it would take several years to sell all the units recently completed or being finished this year. Developers are holding units off the market.”

~

let’s see, 159 sales in 6 months is almost 27 per month

we have 400 + 450 + 1000 units which means there are almost 6 years worth of condos downtown at the current rate of sales

ouch!

[4plexowner]

“About 400 new and occupied ones are listed for sale, and more than 450 are in some stage of foreclosure and will eventually be put on the market. An additional 1,000 units that were under construction when the market soured are slated to be completed this year, adding to the glut and putting further downward pressure on prices.

So far this year, 159 new homes have been sold downtown, according to DataQuick. At that pace, it would take several years to sell all the units recently completed or being finished this year. Developers are holding units off the market.”

~

let’s see, 159 sales in 6 months is almost 27 per month

we have 400 + 450 + 1000 units which means there are almost 6 years worth of condos downtown at the current rate of sales

ouch!

[4plexowner]

“About 400 new and occupied ones are listed for sale, and more than 450 are in some stage of foreclosure and will eventually be put on the market. An additional 1,000 units that were under construction when the market soured are slated to be completed this year, adding to the glut and putting further downward pressure on prices.

So far this year, 159 new homes have been sold downtown, according to DataQuick. At that pace, it would take several years to sell all the units recently completed or being finished this year. Developers are holding units off the market.”

~

let’s see, 159 sales in 6 months is almost 27 per month

we have 400 + 450 + 1000 units which means there are almost 6 years worth of condos downtown at the current rate of sales

ouch!

[4plexowner]

“About 400 new and occupied ones are listed for sale, and more than 450 are in some stage of foreclosure and will eventually be put on the market. An additional 1,000 units that were under construction when the market soured are slated to be completed this year, adding to the glut and putting further downward pressure on prices.

So far this year, 159 new homes have been sold downtown, according to DataQuick. At that pace, it would take several years to sell all the units recently completed or being finished this year. Developers are holding units off the market.”

~

let’s see, 159 sales in 6 months is almost 27 per month

we have 400 + 450 + 1000 units which means there are almost 6 years worth of condos downtown at the current rate of sales

ouch!

[Author]

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