This will also shake the South Florida condo market - Reader comments at The New York Sun

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Reader comment on:
Condo Fee Defaults Surge in Manhattan

Submitted by FD (Condo Hotel Miami Beach), Nov 10, 2007 00:40

Here in South Florida this is another disaster waiting to happen. I do not understand why the law doesn't force the developer to deliver the condominiums with sufficient reserves for at least one year.
Many "investors" will default on their fees, then on their mortgages before foreclosure, putting an undue burden on the shoulders of the few legitimate owners who actually live in their condominiums.
I've said it here. Write my words.
Best regards.
FD

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Other reader comments on this article

Comment	By	Date
One cc default to seven is hardly reason to proclaim that the crisis is upon us. How many total cc... [MORE]	Lewis C Taishoff	Nov 12, 2007 15:56
Here in South Florida this is another disaster waiting to happen. I do not understand why the law doesn't force...	FD (Condo Hotel Miami Beach)	Nov 10, 2007 00:40
It is beginning in Manhattan..... [MORE]	Angela Boyer	Nov 9, 2007 16:17
I bet the guy who wrote this article has rented in the city for 8 years and is upset that... [MORE]	Jimmy	Nov 9, 2007 15:25
Christison Company, San Francisco Bay Area manages approximately 8,000 condominium/homeowners association units. Effective October 2007 we have 900 units who... [MORE]	Douglas Christison	Nov 9, 2007 11:28

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Condo Fee Defaults Surge in Manhattan