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Sonoma and other projects in question.... Credit Crunch Causing Condos Constuction Chaos Rate Topic: -----

#1 User is offline   ricco67 Icon

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Posted Sunday, August 17, 2008 at 5:18 PM

Well, this may answer some of the questions we have had for a couple of developments.


Interesting quote:

"The financing environment right now is pretty hostile"

Considering how the rest of the nation is doing, I wouldn't be a bit surprised if outside lenders were just as jittery of our local economy.
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#2 User is online   TheNiche Icon

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Posted Sunday, August 17, 2008 at 5:27 PM

View Postricco67, on Sunday, August 17th, 2008 @ 5:18pm, said:

Well, this may answer some of the questions we have had for a couple of developments.


Interesting quote:

"The financing environment right now is pretty hostile"

Considering how the rest of the nation is doing, I wouldn't be a bit surprised if outside lenders were just as jittery of our local economy.


There was an article in the Austin Business Journal not long ago that said that commercial real estate sales volumes were down by about 86-ish percent over the last year. Houston was down by 56-ish percent, and was one of the best performers in the nation. And its not for lack of interest on the part of buyers or sellers. It's all about the availability of credit.

Brokers are really feeling the hurt, and there's practically no activity whatsoever in a place like South Florida.
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#3 User is offline   wernicke Icon

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Posted Sunday, August 17, 2008 at 5:35 PM

I wonder if the Regent Square development will get held up too... tear down some apartments, wind up with a very valuable fenced-in field for a couple years.

Hopefully not though.
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#4 User is offline   musicman Icon

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Posted Sunday, August 17, 2008 at 9:18 PM

View Postricco67, on Sunday, August 17th, 2008 @ 5:18pm, said:

Well, this may answer some of the questions we have had for a couple of developments.

wasn't this already posted here?
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