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	<title>Comments on: Filling Vacant Condos</title>
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	<link>http://www.gothamgazette.com/blogs/wonkster/2009/07/08/filling-vacant-condos/</link>
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		<title>By: Arlie Cumbass</title>
		<link>http://www.gothamgazette.com/blogs/wonkster/2009/07/08/filling-vacant-condos/comment-page-1/#comment-103408</link>
		<dc:creator>Arlie Cumbass</dc:creator>
		<pubDate>Mon, 23 Aug 2010 04:25:26 +0000</pubDate>
		<guid isPermaLink="false">http://www.gothamgazette.com/blogs/wonkster/?p=4481#comment-103408</guid>
		<description>Found your post via Bing. The economy won&#039;t improve unless we keep low interest rates and get unemployment under control. the new home market has to improve to bring the economy up.  Particularly in Nevada and similar markets.</description>
		<content:encoded><![CDATA[<p>Found your post via Bing. The economy won&#8217;t improve unless we keep low interest rates and get unemployment under control. the new home market has to improve to bring the economy up.  Particularly in Nevada and similar markets.</p>
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		<title>By: computer consultant</title>
		<link>http://www.gothamgazette.com/blogs/wonkster/2009/07/08/filling-vacant-condos/comment-page-1/#comment-84323</link>
		<dc:creator>computer consultant</dc:creator>
		<pubDate>Fri, 10 Jul 2009 13:29:39 +0000</pubDate>
		<guid isPermaLink="false">http://www.gothamgazette.com/blogs/wonkster/?p=4481#comment-84323</guid>
		<description>Agree with the above comment. just look at Miami. Luxury condos going for less than 200/sq ft once banks take over the property.</description>
		<content:encoded><![CDATA[<p>Agree with the above comment. just look at Miami. Luxury condos going for less than 200/sq ft once banks take over the property.</p>
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		<title>By: Larry Littlefield</title>
		<link>http://www.gothamgazette.com/blogs/wonkster/2009/07/08/filling-vacant-condos/comment-page-1/#comment-84314</link>
		<dc:creator>Larry Littlefield</dc:creator>
		<pubDate>Wed, 08 Jul 2009 19:57:56 +0000</pubDate>
		<guid isPermaLink="false">http://www.gothamgazette.com/blogs/wonkster/?p=4481#comment-84314</guid>
		<description>I&#039;ve got a better idea.  Let the developer go bust.  Let the lender go bust.  Let the FDIC auction the building.

Instead of &quot;affordable housing&quot; at $450K per unit with a $50K public subsidy (sucked out of where?, you get affordable housing for $250K for nothing.  The only difference is that everyone has an equal ability to buy it.

The city might choose to finance the completion of half finished projects, to add to the glut and thus affordability.  But only after the developer and its lender(s) have taken enough of a hit so the building can cash flow at realistic sales prices and rent levels -- ie. a lot lower than they have been.</description>
		<content:encoded><![CDATA[<p>I&#8217;ve got a better idea.  Let the developer go bust.  Let the lender go bust.  Let the FDIC auction the building.</p>
<p>Instead of &#8220;affordable housing&#8221; at $450K per unit with a $50K public subsidy (sucked out of where?, you get affordable housing for $250K for nothing.  The only difference is that everyone has an equal ability to buy it.</p>
<p>The city might choose to finance the completion of half finished projects, to add to the glut and thus affordability.  But only after the developer and its lender(s) have taken enough of a hit so the building can cash flow at realistic sales prices and rent levels &#8212; ie. a lot lower than they have been.</p>
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