Keep your photos coming! Signs of empty and abandoned tract housing welcome! Condo vacancies! Other indications why moving the Urban Development Boundary is the height of stupidity in Miami-Dade County!
Submitter writes, "Photo is Homestead, SHOMA homes, appliance boxes left to blow into a lake. Entire area is overbuilt with prices plummeting and those who thought they could flip renting to any entity that can draw a breath. City Council controls the approval process and in four years never said no. Campaign contributions are through the roof from developers."
Don't forget to read the fine Miami Herald story in Sunday's paper on the mortgage fiasco in Miami Dade. Ask yourself the question, if it took liar loans, mortgage fraud, and negative amortization toxic mortgages to lure the last buyers into the speculative housing bubble-- who, then, is left to buy into the vast oversupplied markets built on fraud, speculation, and political chicanery?
14 comments:
If I'm not mistaken, that shallow area looks like a "littoral zone" where wildlife is supposed to love to live. Looks really appetizing doesn't it.
who, then, is left to buy
And what is your answer to the question?
There are always buyers at the right price. This has shades of the S&L scandal of the past...
Yes, this does have shades of the 1980's S&L scandal, but the cost to financial institutions and investors will be much, much higher. I suppose the question is, where is the bottom to the market? Because one of the key lessons to investors is "never try to catch a falling knife".
When the subprime fiasco began to unfold, over the summer, real estate economists said everything would be OK, later in 2007. As the losses began piling up, the publicly traded homebuilders started to come clean-- and said that 2008 was shaping up to be a disaster, too.
Now, some real estate professionals are suggesting that it won't be until 2009 or 2010.
The point is: it will take a very long time to absorb the excesses of the market-- excesses that were encouraged by the homebuilders and bankers and Wall Street and the Federal Reserve (read our archive: housing crash).
Not to mention zoning officials like our county and city commissions!
Politicians should encourage urban infill. Miami-Dade County has tens of thousands of acres of urban areas near downtown and near I-95 that need new housing. And these areas are near schools and they are near public transportation. Unfortunately the "Pave the Everglades" crowd has lobbyists like Neisan Kaisden who never stop their efforts to put development in the least appropriate locations.
When will get politicians who just do the right thing?
That's right. When?
And when will the mainstream media start asking the question, too?
gimleteye, are you going to pick a contest winner?
It would be nice to know which of your readers are submitting photos to the contest.
How About for a prize: a day at the "Y" with Natacha. Can you arrange it? It would be worth it to see her in a bathing suit.
Now, now,
The Krome Gold Photo Contest will be ongoing... the competition judges are still finalizing grading criteria. Some might call this putting the cart before the horse, in which case, I can only confess that being part of this time-honored Miami-Dade tradition is truly humbling. So Eyeonmiami will proceed to publish the most illustrative photos of the Krome Gold ideal.
Submit your digital images of swirling trash by vacant condo buildings, a blizzard of for sale signs near tract housing, we will take your pictures of the empty and forlorn, to: geniusofdespair@gmail.com
Should submitters wish to disclose their names or aliases, by all means-- this is a sharing moment!
Natacha in a bathing suit... no please... I believe Miami Dade has suffered enough.
We were planning on purchasing a home in 2008 but I believe the best thing is to hold off for now. I simply refuse to pay hundreds of thousands more for a house based on the advice of the very people that profit from my decision.
"Should submitters wish to disclose their names or aliases, by all means-- this is a sharing moment!"
Yes, please add my name to the photo I sent you. I made a special trip out to photograph that building because it has such a strong affect on me. If you'd also link my website, I'd appreciate that too!
It would helpful if the photos included descriptions of the property, such as what it is and where it, and other info (for example: vacant apartment building after condo converter purchased and evicted all the tenants, etc.).
Photo is Homestead, SHOMA homes, appliance boxes left to blow into a lake.
Entire area is overbuilt with prices plummeting and those who thought they could flip renting to any entity that can draw a breath.
City Council controls the approval process and in four years never said no. Campaign contributions are through the roof from developers.
"It would helpful if the photos included descriptions of the property, such as what it is and where it, and other info (for example: vacant apartment building after condo converter purchased and evicted all the tenants, etc.)."
Yes, I agree. I included this information with the photo I submitted, but it was not published.
Post a Comment