Seattle Housing Buzz

Found this on the South Beach Condo Blog, this is apparently a real ad.

Developers are increasingly worried that buyers may be trying to cancel their contracts for either legitimate or frivolous reasons. Over the last four years or so, the Miami area has enjoyed a renaissance and real estate boom. During that time, reports claimed that 60,000 to 70,000 condos were planned or under construction. In spite of the recent bust, the reality today is that most of these projects have survived and will be delivered in the next 18 months. Many people are realizing, to their horror, that they can’t afford to close or don’t want to.

At least Seattle is only building a fraction of the number of units that’s springing up in Miami.