Developers should be pissing their pants.
This post is about me venting, so please take it with a grain of salt.
OK. So I don’t care what anyone says (specifically real estate agents representing developers) the market is NOT doing well. SO why do I feel like when it comes to developers in this city is it that they refuse to go above and beyond their duties as soon as you sign on the dotted line. In case these overly optimistic people haven’t noticed, interest rates are going up, people still don’t want to dive in and make these big purchases; especially when you refuse to budge on your price of 540 p/sq ft. And even when I agreed to pay that you refuse to do me even the simplest of favors?! I still can’t be too specific about the situation as I am still trying to work through it but you bet that once i’ve followed through there will be a pretty sizeable story about the incompetence of these people that work for marketing firms representing developers.
Well I have news for you Mr Condo Sales Person, I have no qualms about walking away without my deposit and when me and 10% of the 40% of condos you sold thus far do the same you are in a real big pickle.
Here are some links for our readers to take in everything in the same negative light that I am viewing the situation:
The City Paper: These Prices are INSANE!
DC Housing Prices: DC sales December 2007
Bubble Meter: More Condo Projects Going Rental
Fortune: Real Estate, Buy Sell or Hold?
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