[swirlundergrounder]

You should have gotten a 5 year ARM instead of an interest only mortage if you wanted something short term at a lower rate.

That's what we did. We're not planning on staying in this house past 5 years.

A majority of people that bought into the market several years ago via 'interest only loans' are now screwed.

Slammin Shaun is the man to ask around here about this stuff..

Prices for houses have pretty much leveled off. Condo's on the other hand are financial suicide imo.

How can anyone expect Condo prices not to drop with the over development in this area.

Last year around this time, Miami Dade County said that there will be 79,000 new condo units in Dade county by the Spring of 2008.

Broward will probably have abiut the same amout of new units.

Where are you going to get 160,000 new buyers of condos who's avergae price is going to be around $250K for a 2/1 unit in this market?