User profile: scottc
Joined: Jan. 13, 2009
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Recent Comments
Total Comments: 5 (view all)
C'mon the builders don't have any money to get. This lawsuit is 3 years too late. Most of the builders are BK or on the verge of it. This will just put them over the edge, causing more people to be out of work. Nice job labor union!
Congratulations to Frank! Can't beat going to the world champs. Great to see another Rebel make it into the league. Keep making us proud Frank.
Separate but equal didn't work for civil rights and shouldn't work now.
Two factors not mentioned:
1) financing of those units. FHA and Conventional banks are not lending on loans over $287,000 unless you have a major (40% or more) down payment. Even "the Donald" has been unable to get financing for buyers at Trump Towers.
Places like the Palms place just rent them out as hotel rooms but others like city center need to sell them to raise capital to finish the project.
2) Price per square foot. Delivery of these units has been anywhere from $500 to $1,200 per square foot. For reference, there are mansion/resort style homes in the valley (e.g. Seven Hills or McDonald Highlands) selling for about $275 per square and you get a yard to call your own.
Going forward projects will not rely on this model of financing since selling and financing the units has proven to be unreliable.
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Have you seen the Local DJ who did "I Love Chicken" go to youtube and search it. It's the best spoof done in a while.