Word: condo
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Dates: during 2000-2009
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...makers (the ones targeting men, anyway) have responded by becoming increasingly creative, or perhaps ridiculous. What began as a simple choice between lubricated, ribbed or custom-fit now includes flavored, novelty (Star Wars prophylactic, anyone?) and glow-in-the-dark. One can even purchase condom accessories like the $28 Condo-M, a plastic-and-aluminum bedside container. (Think Pez dispenser for grownups.) Even the presidential campaign spawned Barack Obama- and John McCain-themed condoms with corresponding slogans ("Who says experience is necessary?" for the former; "Old, but not expired" for the latter). (Read about permanent birth control...
...number of REOs is skyrocketing. The first three quarters of 2008 show a spike of 190% in REOs in the South Florida tri-county area, according the real estate consultancy firm, Condo Vultures of Bal Harbour. The number of Miami-Dade properties turned over to lenders by the courts so far this year is 8,656. That's up 188% from last year's total of 3,009 during the first three quarters. Similar spikes occurred in Broward County, with a 215% hike, from 2,339 to 7,370. Palm Beach County saw an increase of 145%, jumping from...
Still, those numbers are just a portion of the overall foreclosures in South Florida. Peter Zalewski, founder of Condo Vultures, projects that nearly 75,000 properties in the tri-county area will slip into foreclosure this year, up from 33,154 last year...
...moratorium ultimately may help the banks, particularly if it decreases the number of REOs they must contend with. By staving off foreclosures the banks also benefit when it comes to condos because in Florida the lender has to settle up condo fees for the past six months when they take a property into receivership...
About the only bright spot with the current housing crisis is that the median cost for housing is dropping. The Greater Fort Lauderdale area shows a drop in its median condo prices, from $160,000 last year to $115,000 today, according to the Realtor Association of Greater Fort Lauderdale. That's good for those who have money in their pockets or access to credit. While homes in the area may be more affordable, some potential buyers are having trouble coming up with the money to purchase them. But for now, Florida's governor would be happy to help homeowners...