Urbandigs.com Zombie Developers

I have trouble making sense of the article. Is there a list of the actual developments attached? I'm not sure he is using the most straightforward approach.

I'd like to see a list of large new developments where more than say 1/3 of units are not sold yet..and I think any one in that category has serious potential problems because I suspect there is a huge gap is ALL cases between planned sales prices and achievable sales prices today (but I'm no expert), so that there is significant risk of a bunch of units being unoccupied for two or three years if the project fails and goes to foreclosure.

Or even ones without windows yet - falcons would really nest in those.

Yes, jim, just because a developer isn't going to sink the ship on a development doesn't mean it can't become a "zombie" for the purchasers. And, where are the renters for these extra units (plus the units buyers are trying to rent out, as well as extra inventory in "successful" buildings) going to come from?

Curbed has something quite hilarious posted. Supposedly a number of developers are lumping together 4-whatever number of units and offering them to investors at a discount. Get this, the Kalahari is offerring 4 units, 2 2beds and 2 3 beds for a grand total of 10% off. That's some bargain, when someone off the street can probably get 25% off just by asking, and possibly more for the larger units. Marketing geniuses.

bds, i find that confusing as well. just look at general growth, huge pockets + bad debt = chapter 11.

where are renters going to come from?...THat strikes me as easy. in that at lower rates I think you could fill just about anything, and it will be wonderful for renters like me on the general market, and more bad news for buyer obviously. (the weird thing is though..that once a unsold developer units go into foreclosure..then the units subject to foreclosure will be off market for ...a long time, as i understand it)